With the aim to double the income of farmers, Uttar Pradesh Chief Minister Yogi Adityanath has taken measures to link over 2.5 million farmers to Kisan Credit Card (KCC) scheme.
Under KCC, loans are provided at a subsidised rate to the farmers for seeds, irrigation purposes, crop production, land preparation, fertilisers and other requirements.
This will resolve the ongoing capital crisis in the agriculture sector which directly impacts the production and sale of crops.
The Yogi government has taken effective measures to help farmers overcome issues like shortage of cash before harvest season by providing them monetary aid through KCC. As a result, the farmers of the state are flourishing by getting appropriate prices for their produce.
A government spokesman said that according to the Swaminathan Committee, the government has spent an amount of Rs 64,000 crore on the Minimum Support Price (MSP) related to crop expenditure, expansion of crops included in MSP, transparent process of procurement of crops and payment to farmers in their accounts within 72 hours.
About 2.42 crore farmers have so far received Rs 27,101 crore under the Prime Minister’s Kisan Samman Nidhi. Most of the beneficiaries of this project are farmers from Uttar Pradesh.
In order to provide relief to the farmers from the financial crisis, the Yogi government in its first Cabinet meet, had waived Rs 36,359 crore worth of loans. Since then, the government has been constantly working to improve the conditions of the farmers in the state.
The state government’s initiative to cover 2.5 crore farmers with KCC, will bring liquidity of about Rs 2 lakh crore in the agricultural sector. This will not only alleviate the crisis of agricultural investment to a great extent but also will boost the income of farmers in the state.
At present, the Yogi government has covered over two lakh crore farmers with KCC.