Maharashtra Interest Free Farm Loan Scheme 2022

Maharashtra Interest Free Farm Loan Scheme Key Features:-

Objective of the scheme–

The farmers will be able to avail interest free crop loan. It will help the farmers to live a standard livelihood as their income will be raised.

Number of farmers–

According to the survey, there are 35 lakh farmers who can get the benefit from the government.

No interest loan–

As per the rule of the rule of the scheme, the farmers will have to pay 0% interest while repaying the loan. The interest will be borne by the Uddhav Thackeray led government.

Total budget for the scheme–

The state govt. of Maharashtra has earmarked a provision of 1,200 crore rupees for the scheme.

Loan amount–

Under the scheme the beneficiaries will get up to 3 lakh rupees as loan under MahaVikasAghadi.

Staring of the loan–

As per the government, the loan scheme will start from the upcoming Kharif season.

Objective of 0% Interest Crop Loan Scheme in Maharashtra-

As it is seen that paying a loan with hefty interest is turn out to be a difficult task for the farmers. This is the reason government has decided to come up with a loan scheme where farmers have to repay the 3 lakh rupees on time but the interest will be paid by the government.

Zero Percent Interest on Crop Loans-

MVA government is focused in increasing the farmers’ income in the state and that is the reason they are suggesting the farmers to avail the loan scheme. With the help of the scheme approximately 35 lakhs farmers will be benefitted as they will be able to avail 3 lakhs rupees as loan. The loan scheme will prevent farmer suicide in the state and government has also opted for the loan as in 2019-20 the state government has disbursed 28,604 crore rupees.

Other Initiatives for Agriculture Sector:-

• During the budget session, the Maharashtra govt. has allotted 2000 crore rupees for Agricultural Produce Market Committee.
• For increasing agricultural produce the Maharashtra State Electricity Distribution Company Limited will provide 1,500 crore rupees for electric pump.
• The state government is also going to give 33% concession on electric bill. If the farmer pays 50% of the bill then government will pay the rest.
• Govt. also allotted 2100 crore rupees for creating market for the farmers of the state.
• There will be 500 new PunyashlokAhilya Devi Holkar vegetable nurseries
• For agricultural research, govt. has also decided to spend 600 crore rupees
• Under SharadPawar Gram SamrudhiYojana, govt. will build poultry and cowshed.

Maharashtra Interest Free Farm Loan Scheme Eligibility criteria:-

Farmers of Maharashtra–

To avail the scheme farmer has to be a domicile of Maharashtra

Farm land–

The farmers has to have their own farm land to get the loan

Bank account–

The candidate must have a bank account where the loan amount will be transferred.

Maharashtra Interest Free Farm Loan Scheme Required documents:-

Address proof-

Land record–

The farmers have to provide their land record at the time of application

Account details–

FAQ