K’taka Budget 2023: Good News for farmers, interest free loan enhanced to Rs 5L

Team Udayavani, Feb 17, 2023, 11:06 AM IST

Bengaluru: Chief Minister Basavaraj Bommai on Friday announced Rs 5 lakh interest-free loan for farmers in his Budget speech.

The interest-free loan has been enhanced to Rs 5 lakh from the existing Rs 3 lakh limit.

Key Takeaways

Limit for interest-free short-term loan to farmers increased from Rs.3 lakh to Rs.5 lakh. Target to disburse Rs.25,000 crore loan for 30 lakh farmers.
Additional subsidy of Rs.10,000 to Kisan Credit Card holders under ‘Bhoo Siri’ Yojane to benefit 50 lakhs farmers.
Implementation of Jeevan JyothiVimaYojane for 56 lakh small and marginal farmers’ families at an expenditure of Rs.180 crore.
Interest subsidy for capital up to Rs.10 lakh to encourage Farmer Producers Organisation under Mukhyamanthri Raitha Unnathi Yojane. Preference to FPOs processing millets.
Rs.100 crore to processing and export promotion of agricultural and horticultural products under Raitha SampadaYojane
Incentive of Rs.10,000 to promote farmers growing minor millets under Raitha Siri Yojane.
Introduction of Apical Root Culture Technology for self reliance of farmers in Potato seeds.
Assistance of Rs.10 crore to Agriculture and Horticulutre Research Centre at Theerthahalli for research relating to disease management and increasing productivity of Arecanut crop.
Establishment of Horticulture College in Tiptur.
A grant of Rs.100 crore for Karnataka Grapes and Wine Board.
A grant of Rs. 75 crore for Sahasra Sarovara and Sahyadri Siri programmes. Implementation of Jalanidhi Programme for constructing water ponds in farmers’ lands.
Establishment of Hi-tech Silk Cocoon Market in Shidlaghatta at an expenditure of Rs.75 crore.
Assistance of Rs.10 crore for establishing 32 Automatic Reeling Units; Rs.12 crore for providing Shredders to 1,000 Silk growers; Rs.5 crore for incorporating Hot Air Conveyor Dryer in 10 places in the State.
Rs.8 crore for infrastructure development in Mysuru sowing area.