Assam government as launched Assam Farmer’s Credit Subsidy Scheme (AFCSS) to provide partial crop loan waiver to the farmers in the state. It is a Credit Linked Subsidy Scheme (CLSS) under which 25% of the farm loans taken by the farmers will be reimburse by the government.
Assam CM Sarbananda Sonowal has announced the scheme in December 2018. The state cabinet approved the scheme in January 2019. The primary objective of the scheme is to provide relief to the debt ridden farmers. The scheme will provide financial support to the farmers as 25% of their crop loans will be waived off by the government.
4 lakh farmers in the state to benefit from the scheme. AFCSS will cost Rs. 500 crores to the state government.
|Scheme:||Assam Farmer’s Credit Subsidy Scheme (AFCSS)|
|Benefits:||Reimbursement of 25% of the crop / farm loan amount|
|Launched By:||Assam CM Sarbananda Sonowal|
- Partial crop / farm loan waiver
- 25% subsidy of the crop loans taken by the farmers
- Assam government to reimburse 25% of the crop loans taken or repaid by the farmers
- Maximum amount to be reimbursed will be Rs. 25,000
- Applicable only in Assam
- Applicable only for the crop loans taken by farmers
- Applicable only for the loans taken/repaid during financial year 2018-19
The subsidy amount under Assam Farmer’s Credit Subsidy Scheme will be directly credited to the beneficiary farmers bank account. Government`s contribution to the scheme is already transfered to SBI. The SBI will deposit the subsidy of the debt waiver scheme directly into the farmer`s account.
NOTE: Application forms & application procedure is yet to be released by the government. The article will be updated with how to apply for the Assam Farmer’s Credit Subsidy Scheme along with AFCSS application forms when announced by the government.