Rs 2 Lakh Crore Concessional Credit Boost Through Kisan Credit Cards; Additional Rs 30,000 Crore Funding To NABARD: FM

Finance Minister Nirmala Sitharaman on Thursday (14 May) began her second tranche of announcements pertaining to the Rs 20 lakh crore economic package under Atmanirbhar Bharat vision.

Today’s nine step announcement would focus on migrant workers, street vendors, small farmers, housing and employment generation for tribals.

As a measure to benefit around 3 crore farmers, mostly, small and marginal, FM Sitharaman announced Rs 30,000 crores ‘Additional Emergency Working Capital Funding for farmers through NABARD’.

The move has been announced given the inadequate financial resources with Small and Marginal Farmers. The capital would be extended by NABARD to Rural co-operative banks and Regional Rural Banks (RRBs) who would pass on the credit to the farmers.

The finance minister also announced a 2 lakh crores concessional credit boost to 2.5 crore farmers through Kisan credit cards. Fishermen and animal husbandry farmers will also be included in the Kisan credit card scheme. This will enable farmers to gain access to institutional credit at the concessional interest rate, the FM said.