On Thursday, Finance minister Nirmala Sitharaman addressed the concerns of the farmers who are facing a lot of problems amid the COVID-19 pandemic followed by stringent lockdown. She also shared the details of the economic package, announced ₹30,000 crores Additional Emergency Working Capital Funding through NABARD.
Additionally, this will support the farmers of our country by refinancing ₹30,000 crores for crop loan requirements of rural co-op banks and RRBs.
Moreover, a Rs 2 lakh crore concessional credit was also announced by her in order to give a boost to 2.5 crore farmers through Kisan Credit Cards.
₹30,000 crore Additional Emergency Working Capital Funding: DETAILS
- This is an additional fund to Rs 90,000 crores that is to be provided by NABARD through the normal refinance route during this year.
- Front-loaded on-tap facility to 33 state co-operative banks, 351 district co-operative banks, and 43 RRBs available on tap based on their lending.
- This will provide benefits to around 3 crore farmers who are mostly small and marginal.
- These funds will support post-harvest Rabi crops and the current Kharif crop preparations in the month of May/June.