Farm loan up to Rs 2 lakh at 7% interest, says Pawar

Expressing concern over a spate of suicides by debt-ridden farmers in Maharashtra and other states, Union agriculture minister Sharad Pawar has said the farmers would be provided with crop loan up to Rs 2 lakh at an interest rate of 7 per cent.

The UPA government has initiated a series of farmer-friendly steps and providing crop loan at a low rate of interest was one of the measures, Pawar said while addressing a farmers' rally in Hingana on the outskirts of Nagpur.

Deputy Chief Minister R R Patil and Union civil aviation minister Praful Patel were also present at the rally. Pawar said to check suicides among farmers, loan procedures, irrigation and marketing process should be simplified along with a provision for alternate employment and steps to increase yield per hectare.

"When the country's population was 60 crore, India was importing foodgrains and when we have touched 100 crore mark, we are self-sufficient in foodgrains and the credit goes to the farmers", he added.

The Centre has introduced the Bharat Nirman Yojna' which will enable the farmers to cultivate two crops a year and about one crore hectare of land will be brought under irrigation, he said.

The rural job guarantee scheme will ensure opportunities round the year, Pawar said calling the farmers to opt for secondary businesses like dairy and poultry business, Pawar added.