CM lauds Mulkanoor Coop for crossing Rs 200-cr turnover

Interest-free loans up to Rs 1 lakh for farmers

Highlighting his government’s commitment to the farming sector, Chief Minister N Kiran Kumar Reddy, on Sunday, said that the UPA government has earmarked Rs 7 lakh crore loans for farming sector when compared to Rs 60,000 crore seven years ago. He said that Central government would bear 1.5 per cent of the total interest rate of 8.5 per cent and further added that three more per cent of interest would be waived off if the farmer returns back the loan within one year. He also informed that State government would give interest free loans to farmers below the amount of Rs 1 lakh.

Speaking on the occasion of golden jubilee celebrations of APCOB, the Chief Minister lauded the Mulkanoor Cooperative Society and efforts put in by the people for crossing the turnover of Rs 200 crore through dairy farming. He further urged other societies to take it as a model and replicate it. Chief Minister further said that through bank loans a target of Rs 72,000 crore was projected in the State, out of which Rs 59,000 crore was allocated for farming sector. “With Rs 12,500 crore, lions share went to APCOB,” he said.

According to him, the farmers were feeling the heat of MNREGAs (Mahatma Gandhi National Rural Employment Guarantee Act), as agricultural labourers were getting 100 days employment and on remaining days they were working on farms, but hiked their charge. “With the habit of getting Rs 150 per day, the farmer is being burdened. Therefore the Central government should come up with solution by bearing burden,” he said.

He suggested that with ‘farm mechanisation’, the farmers could reduce their burden to almost half. “The State has spent Rs 2,500 crore in the last three years on farm mechanisation. We gave 30-40 per cent subsidies for societies in this direction,” said the Chief Minister.