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Assam Government has launched Assam Farmer’s Interest Relief Scheme (AFIRS) for farmers who repay their crop loans on time. They will be given new crop loans at zero percent interest rates i.e. interest free crop loans. The state government will provide 4% interest subvention on short-term farm loans upto Rs. 2 lakh.
Assam Farmer’s Interest Relief Scheme is similar to the scheme by the center government for prompt loan paying farmers. Center government`s scheme provides interest subvention of 3%. Hence the effective rate of interest on short-term crop loans will be zero.
The primary objective of the scheme is to double farmer`s income by 2022. It will provide much required relief for debt ridden farmers in the Assam.
| Scheme: | Assam Farmer’s Interest Relief Scheme (AFIRS) |
| State: | Assam |
| Benefits: | Interest free short-term crop loans upto Rs. 2 lakh |
| Beneficiaries: | Farmers who re-pay their crop loans on-time |
AFIRS Eligibility Criteria:
- Applicable only for the farmers in Assam
- Applicable only for those farmers who repaid their crop loans on time
- Applicable for new crop loans only
AFIRS Benefits:
- Interest free short term crop loans upto Rs. 2 lakh
- 4% interest subvention on short-term crop loans
Assam government is committed to empowering farmers in the state. The scheme was announced by the Assam CM Sarbananda Sonowal & approved by the state cabinet. The scheme is also called as Debt Relief Scheme for KCC loans.
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