Budget 2025: Kisan Credit Card will provide more loan, know everything about it..

Today, on February 1, Finance Minister Nirmala Sitharaman presented the Budget 2025, in which special attention was given to farmers, youth, poor and women. The focus of this budget is on 'GYAN' i.e. poor, youth, Annadaata and Nari Shakti. The government has made many big announcements especially regarding farmers, which will strengthen the agriculture sector.

The new reforms include many important announcements. One of these announcements is very much discussed. That is - from increasing the limit of Kisan Credit Card. To provide loans to farmers at cheaper rates, the government has increased the limit of Kisan Credit Card (KCC) from Rs 3 lakh to Rs 5 lakh.

What is Kisan Credit Card (KCC)?

The Kisan Credit Card Scheme was started with the aim of providing easy loans to farmers for crop production and agriculture related needs. This scheme was implemented in 1988 with the cooperation of the Government of India, Reserve Bank of India (RBI) and NABARD. Through KCC, farmers get loans at low interest rates, so that they can meet the needs of seeds, fertilizers, pesticides and other agricultural needs.

Who can take KCC?

All those farmers who are farming alone or jointly can avail the benefits of this scheme. These include land owners, tenant farmers, oral lessees and farmers doing farming in partnership (share croppers). Also, farmers associated with Self Help Group (SHG) and Joint Liability Group (JLG) are also eligible for this scheme.

What is the specialty of KCC?

-KCC card allows farmers to transact directly with input dealers and receive the earnings from the sale of their agricultural produce directly into the bank account.

-It is a magnetic stripe card, which gives Personal Identification Number (PIN) and ISO IIN number.

-It works on ATMs and micro ATMs of all banks.

-The card is issued by Europay, MasterCard or VISA.

-Under the Aadhaar-linked banking system, some banks also provide debit cards with biometric authentication.

What other announcements were made for farmers?

Benefits of Pradhan Mantri Dhan-Dhanya Yojana

The Finance Minister said in the budget speech that about 1.7 crore farmers will benefit under the Pradhan Mantri Dhan-Dhanya Yojana. The aim of this scheme is to cover those districts where agricultural production is low and they need government help.

Loan facility for dairy and fisheries

To promote dairy and fisheries, the government has announced the facility of cheap loans up to Rs 5 lakh, which will accelerate investment and development in these sectors.

Formation of Makhana Board

Keeping in mind the farmers of Bihar, the government has decided to form a special Makhana Board to promote Makhana production. This will provide better market and government assistance to Makhana producers.

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