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Patnaik Disburses Rs 441.76 Crore Interest Subvention On Farm Loans

The chief minister in his speech pointed out that Kiran Sahu, a farmer’s son in Ganjam, received a scholarship to study at MKCG medical college in Berhampur. 

Odisha Chief Minister Naveen Patnaik
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Odisha Chief Minister Naveen Patnaik on Monday disbursed interest subvention of Rs 441.76 crore on farm loans benefitting 35 lakh farmers in the state. Patnaik disbursed the amount at a function here at Lok Seva Bhawan. 

Stating that nearly 60 per cent of credit is being given to farmers through coopeartive bodies, Patnaik said the second phase amount was given against the loans given by all cooperative banks and 2,409 primary agricultural cooperative societies. 

This was the second phase of farm loan subvention for 2022-2023. In the first phase, an interest subvention of Rs 415.17 crore had been given. With this, farmers in the state have so far received a total interest rebate of Rs 856.99 crore, he claimed.

The chief minister said that farmers in Odisha do not have to pay any interest for crop loans up to Rs 1 lakh. Out of 35 lakh farmers, 30 lakh are small and marginal farmers, an official release issued by the CMO said.

Noting that agriculture is the soul of Odisha’s economy as well as the basis of development, Patnaik said: "The pilots of our new Odisha, strong Odisha are our farmers, mothers, and young women. So I have always emphasised your empowerment."

He said a special budget has been made to empower the farmers in the state. Patnaik said interest-free agricultural loans up to Rs 1 lakh are being given, while Kalia education scholarship is being provided for the welfare of the families engaged in farming. The chief minister in his speech pointed out that Kiran Sahu, a farmer’s son in Ganjam, received a scholarship to study at MKCG medical college in Berhampur. 

He claimed that Odisha is the first state in the country to provide interest-free loans to farmers and implement welfare schemes like Kalia. He said due to today’s interest subvention, farmers will not have to pay a single rupee of interest. Cooperation Minister Atanu Sabyasachi said that the state government is working with commitment for the uplift of the farmers in the state.

On the occasion, three beneficiaries – Reena Sethi, Nikunj Bihari Kaap, and Savita Samantray – explained how they are able to sustain their families through farming and business due to interest concession on major loans. They said many farmers' families have become self-reliant due to the interest rebate scheme.

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