Recovery-linked incentive scheme for farmers

Staff Reporter

Kakinada: Farmers who repay kharif loans for 2008 by the end of March 31, 2009, can henceforth obtain short-term production loans at 3 per cent interest (pavala vaddi).

It is a recovery-linked incentive scheme aimed at extending the ‘pavala vaddi’ scheme to maximum number of farmers. The Agriculture and Cooperation Department has issued G.O. No. 161 to this effect based on the guidelines framed by the State Level Bankers’ Committee (SLBC). The scheme is scheduled to be launched on February 7, according to Collector and District Consultative Committee Chairman Gopalakrishna Dwivedi.

Addressing the DCC meeting here on Saturday, Mr. Dwivedi said the scheme would be implemented by reimbursing the interest over and above ‘pavala vaddi’ by crediting the same to loan/savings bank accounts of the farmers. “It has been targeted to complete the exercise of preparing bank branch-wise and village-wise lists of farmers who repaid their loans in the stipulated periods by the end of January 31.”

The Collector would distribute the credit advices in a meeting to be organised here on February 7. The bank managers had been instructed to be in touch with mandal parishad development officers who would be coordinating the distribution of credit advices along with officers and staff of the Agriculture Department. Subsequently, the scheme would be made applicable to farmers who repay their rabi loans by the end of June 2009.

Lead District Manager A. Shanmukha Chary, DRDA Project Director Ch. Kumara Swami and others were present.

Recommended for you