Kisan Credit Card

Small farmers in India will now have easier access to financing. Let us inform you that the Modi administration will shortly introduce a new programme through which small and marginal farmers linked with ARDB would benefit from loans and related services. The national government will shortly introduce a new strategy for the country's small farmers. Actually, Union Cooperative Minister Amit Shah is about to initiate a computerization initiative for Agricultural and Rural Development Banks and the Registrar of Cooperative Societies.

According to the official release, Amit Shah will oversee the computerization of ARDB and RCS throughout the states and union territories. The programme is being organised by the Ministry of Cooperation with the assistance of the National Cooperative Development Corporation (NCDC). The Ministry has made a crucial step by computerising the offices of Agriculture and Rural Development Banks (ARDBs) and Registrars of Cooperative Societies (RCSs) in states and union territories.

Organised by Ministry of Cooperation with the help of NCDC

The Ministry of Cooperation is organising this programme in partnership with the National Cooperative Development Corporation (NCDC). The project would completely computerise the offices of Agriculture and Rural Development Banks (ARDBs) and Registrars of Cooperative Societies (RCSs) in States/Union Territories, which is a key step made by the Ministry of Cooperation. According to the statement, this initiative would modernise the cooperative sector while increasing efficiency, where the entire cooperative system will be placed onto a single digital platform.

Also to read: farmers to get benefits of government schemes through cooperative societies

ARDB to continue computerising 1851 units

According to the announcement, 1,851 ARDB units throughout 13 states and territories would be computerised. These will be linked to the National Bank for Agriculture and Rural Development (NABARD). This means that regularly used software will be based on a single national software. This programme will improve operational efficiency, accountability, and transparency at ARDB by standardising business processes using the Common Accounting System (CAS) and Management Information System (MIS). The strategy will let small and marginal farmers to benefit from ARDB acreage and related services via Primary Agricultural Credit Societies (PACS).

The process of preparing the Kisan Credit Card has been made quite smooth. The farmers will currently get their farmer credit card within only 14 days. Various schemes are going on by the government to help the farmers. Farmer credit cards are created by the government to help the farmers during the economic challenges coming during farming, with the help of which the farmers can get financial benefits.

The Kisan Credit Card is a government scheme that was issued in 1998 to give additional loans to the farmers. It was released by the National Bank for Agriculture and Rural Development. Farmers get loans through this scheme. Apart from this, eligible farmers are also given a savings account along with Kisan Credit Card, on which farmers get interest at a very good rate.

At present, the process of making Kisan Credit Cards by the government has been smooth. After completing the application, within just 14 days, the farmer will be provided his card.

Changes in the process of making credit cards

After the application, it will be found in 14 days. The additional fees charged on the documents have been removed. The application process has been made quite easy. Publicity is being done to increase awareness.

Also read: This state government will issue farmers credit card to 66 lakh farmers, every type of facility will be available

Documents required to make Kisan Credit Card application

Passport Size Photo

Land documents

Identity cards like PAN card, Aadhaar card or driving licence

Address proof like Aadhaar card, voter ID or driving licence

By using the Kisan Credit Card, farmers can get loans at low interest rates. For this, they will have to go to the bank and submit the documents given here. The government has run various schemes to help the farmers. Lakhs of farmers across India are also getting benefits from the support of these schemes. Kisan Credit Card Scheme is being run so that the farmers do not have to face financial problems during agriculture. Under the scheme, a loan facility is also being provided to the farmers.

For your information, let us tell you that earlier there was a provision to provide benefits under the scheme only to farmers doing farming. But, at present, farmers engaged in fish farming and animal husbandry are also being given benefits under this scheme. Apart from crop management, farmers can also take loans for dairy work and purchase pump sets, etc. Under this scheme, the government has made arrangements so that there is not much interest pressure on the farmers. Due to an increase in interest, the cost of farming also increases, due to which farmers get trapped in the burden of debt. To save the farmers from this, much less interest is charged on KCC than the regular loans of banks.

Documents required for the agricultural loan at low interest.

Farmers, if you want to take an agricultural loan at low interest, then you need to have identity proof such as a voter ID card, driver's license, Aadhar card, PAN card, etc. Along with this, it is also very important to have land documents and a passport-size photograph of the applicant.

 Also read: Good news: Finance Minister launches Kisan Loan Portal, now subsidized loan will be available easily

Farmers apply like this

Kisan Credit Card will be issued to the farmers after submitting the certificate, photo, and filled application form to the bank. KCC will be issued within 15 days of submission of the application form.

The interest rate of a KCC loan ranges from two percent to an average of 4 percent.

KCC loan interest starts from two percent. On average it goes up to 4 percent. The interest rate also depends on how much time the farmers can repay the KCC loan. If the farmers pay within a short time, they can get a loan of up to Rs 3 lakh at a very easy rate of 4 percent. Along with this, farmers also get the benefit of insurance.

The Haryana government is also purchasing moong, oil seeds, millet and other food grains along with wheat and paddy by 367 markets. At present, maize, millet, cotton, sunflower, moong, groundnuts, arhar, urad, sesame, mustard, barley, grams and paddy are being bought in Haryana at MSP. Haryana has become the first state to buy 14 food grains at minimum support price ( MSP). From the State government side, the government is also purchasing moong, oil seeds, millet and other food grains along with wheat and paddy by 367 markets. At present, purchase of maize, millet, cotton, sunflower, moong, groundnuts, arhar, urad and sesame is being made on MSP. For your kind information, let you know that most states purchase only famous crops like wheat, paddy, cotton and sugarcane on MSP. But Haryana is the first state to purchase 14 crops on MSP. 

Compensation will be given at crop failure 

The Khattar government also talked about providing compensation to the farmers for their failed crops, which will directly be given in their accounts. State government took this step for the damaged crops of farmers due to excessive rain. He said, the state government is taking assessment of loss to farmers. Under this assessment, the government will transfer the compensation amount for the damaged crops to farmers directly in their accounts. 

Read  also: relief to farmers of 35 districts of Uttar Pradesh, compensation will be given to crop failure

The Haryana government is making financial condition of farmers better

The Haryana government is making every possible effort in making farmers financially and socially stable. The state government is also putting up multiple schemes for this. A few of these schemes include credit card scheme, Pradhan Mantri Kisan Samman Nidhi Yojna, dairy entrepreneurship development scheme ( DEDS), kisan tractor Yojna, Kisan Mitra Yojna, agricultural flight scheme, Pashu Kisan credit card scheme. Let us tell you that from these schemes, farmers are also getting other benefits other than grants.

Benefits to farmers from Meri Fasal- Mera Byora

The State government has issued this scheme on 5 July 2019. With the help of this scheme, farmers can upload complete details of their crops online on the internet. Along with this, farmers will also be able to upload the details of any damage caused to their crops. 

Farmer brothers can avail loan through Kisan Credit Card. Through this card, farmer brothers get loans at affordable rates. Various works are being done by the government to help the farmers, one of which is the Kisan Credit Card. Farmer brothers get loans at very low interest rates through this card. What should be the age of farmers applying for Kisan Credit Card? Also, what documents are required. We will tell you this through this news.

Through Kisan Credit Card, loans up to Rs 3 lakh are easily available at affordable interest rates. The interest rate on this loan starts from 7 percent. At the same time, farmers who repay the loan on time are given a rebate of up to 3 percent in the interest rate. In this way, only a 4 percent interest rate has to be paid on the loan taken from Kisan Credit Card. 

Eligibility for Kisan Credit Card.

To avail the benefit of Kisan Credit Card, the age of the farmer should be between 18 years to 75 years. The farmer should have at least 2 acres of agricultural land. Besides, it is also necessary for farmer brothers to have a bank account. To apply for a Kisan Credit Card, the farmer is required to visit the branch of the concerned bank. Through the Kisan Credit Card, farmers can get the necessary funds for agricultural work. Farmers can use this loan for fertilizer, seeds, agricultural machines, animal husbandry and fish farming etc.

Document required to make KCC.

PAN Card

Aadhar Card

Ration Card

Voter ID 

Bank account information

Documents related to agricultural land 

An interim budget will be presented in the Parliament by Finance Minister Nirmala Sitharaman on 1 February 2024. It is believed that farmers can get a big gift from this budget. Due to the Lok Sabha elections this year, the full budget will be presented after the formation of the new government. Earlier, during the tenure of Prime Minister Narendra Modi, the interim budget was presented in 2019. Piyush Goyal, who took over the additional duties of the then Finance Minister Arun Jaitley due to his ill health, had presented the interim budget, along with many major announcements that were also made by the Parliament in the 2019 budget.

The amount of PM Kisan Yojana may increase

PM Kisan Samman Nidhi Yojana was announced in the interim budget of 2019. Under this scheme, an amount of Rs 6000 will be provided annually in three installments to farmers having land up to 2 hectares. More than 12 crore small and marginal farmers were included in this scheme. This amount will be increased to Rs 9000 per year in the budget to be presented in February 2024. It is expected that in the upcoming budget, the installments of PM Kisan Samman Nidhi can be increased, which is no less than a big blessing for the farmers. 

Also read: Uploading these documents is necessary to get the installment of PM Kisan Yojana.

Due to this, the amount of Mahila Samman Nidhi may also be doubled by the government. Besides, loans to women will also be provided at a lower rate of 1% compared to others. It is being told that the amount of Samman Nidhi for women farmers can be increased to Rs 12000. Besides, the government can also provide credit card facilities to provide loans to women farmers.

Can also announce health and life insurance for farmers

Given the Lok Sabha elections, the Modi government has asked to increase the amount in the Kisan Samman Nidhi scheme made for the farmers by 50 percent, and health and life insurance for the farmers can also be announced in the budget to be presented in the Parliament. 

Aman Puri, founder of Steadfast Nutrition, said India only spends 21% of GDP on health care, which is much lower than the world average of 6%. Recently many new diseases have been discovered, which have proved to be very fatal, which also require money. 

Also read: Big update on the 14th installment of PM Kisan has arrived, money will come into the account this month

A new framework is needed to prevent these diseases. In such a situation, the government needs to increase spending on health care.

Employees with a salary of more than Rs 10 lakh will get an exemption

It is being said in the budget to be presented on February 1, that employees whose income is above Rs 10 lakh can get relief in tax payment. Besides, many businesses and startups are also expected to get exemptions on tax payments. The government can provide great news on the matter of income tax. At present the discussion is that employees earning more than Rs 10 lakh can get relief in tax payment.

The government can take this decision for the agriculture sector

People have great expectations from the budget presented on Thursday. People in the agriculture sector have many expectations from this budget. He believes that with an agricultural loan of Rs 20 lakh, emphasis should be laid on achieving higher goals. In this, farmers should be stressed on increasing production by adopting new machinery and technology. If production increases, not only will farmers develop, but the economy will also become stronger.