Farmers to get loans at 3 per cent interest: AP CM

By Staff
|
Google Oneindia News

Hyderabad, May 26 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today asserted that he would strive to obtain loans for farmers at a low interest rate of three per cent and contribute to productivity and their empowerment as was done in the case of the Self-Help Groups (SHGs) of women.

Dr Reddy called for a high-level meeting in connection with the 53rd National Development Council (NDC) meeting to be held in New Delhi on May 29.

Speaking on the occasion, he said the concept of three per cent interest had brought a sea change in the SHGs in the state and earned kudos not only at the national, but also at the international levels. Similarly, such help should be rendered to the farmers who feed the country.

The banks used to charge 13 per cent interest from farmers on loans. However, due to the pressure exercised by his government on the UPA, the interest rate was brought down to nine per cent initially and then to seven per cent. If loans were available at three per cent to farmers all over the country, they would bring a fresh green revolution, he said.

Dr Reddy said it was due to the initiatives taken by the state government in the agriculture and irrigation sectors that he was invited to deliver the key note address at the World Agricultural Conference in the USA and added the honour went to every farmer of the state.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X