The Rajasthan government has given relief to farmers by extending the repayment date for short-term, interest-free crop loans distributed in Kharif 2024. Minister of State for Cooperation, Gautam Kumar Dak said that the Finance Department has approved this decision. This move will directly benefit more than 2.19 lakh farmers in the state. Under the new deadline, farmers can repay their loans by June 30 or within 12 months from the loan date, avoiding any extra financial burden.
Loan Repayment Extended Till June 30
Minister Gautam Kumar Dak announced that the repayment deadline for crop loans taken during the Kharif 2024 season through PACS and LAMPS under Central Cooperative Banks has been extended to June 30. Farmers also have the option to repay the loan within 12 months. Earlier, the deadline was March 31, but there had been long-standing demands for an extension.
Major Relief for Farmers
This decision will provide significant relief to farmers. Without the extension, an outstanding loan of ₹778 crore on approximately 2.19 lakh farmers would have expired. This could have resulted in losing the benefit of interest-free crop loans and an additional 2% penalty on their dues.
Government’s Support for Farmers
The Rajasthan government remains committed to supporting farmers. The Cooperative Minister emphasized that the government is working to ensure farmers’ economic stability. The interest-free crop loan scheme helps farmers manage their agricultural expenses without financial stress.
Boost for the Agriculture Sector
By giving farmers more time to repay their loans, this decision will strengthen the agriculture sector. It will allow farmers to focus on their upcoming crops without financial pressure. The initiative is an important step towards improving the cooperative loan system in the state.