The Himachal Pradesh government has introduced the Agriculture Loan Interest Subvention Scheme to aid farmers in financial distress. This scheme includes a one-time settlement policy and aims to support farmers facing the risk of auctioning their agricultural land due to loan defaults. Under this initiative, the government will cover 50% of the outstanding interest liability on agricultural loans up to Rs 3 lakh per farmer.
An estimated 6,356 farmers in Himachal Pradesh are set to benefit from this scheme, with a total financial outlay of Rs 50 crore. The implementation will be carried out through the Himachal Pradesh State Cooperative Agriculture and Rural Development Bank and the Kangra Cooperative Agriculture and Rural Development Bank.
Chief Minister Sukhvinder Sukhu emphasized the importance of farmers to the state’s economy and highlighted their welfare as a top priority for the government. He noted that many farmers are currently facing financial challenges and announced the government’s decision to provide this one-time support to eligible beneficiaries.
The scheme is designed to assist farmers whose agricultural loans have become overdue, putting their landholdings at risk of auction by financial institutions. By sharing half of the outstanding interest burden, the government aims to help farmers regularize their loans, reduce financial stress, and continue their agricultural activities without the fear of losing their land.
The Chief Minister has instructed relevant departments and financial institutions to ensure the swift implementation of the scheme to provide timely assistance to deserving farmers. He reiterated the government’s dedication to supporting the farming community and its commitment to safeguarding farmers from economic hardships while promoting sustainable growth in the agricultural sector.
