Shimla: In a major relief measure for farmers facing financial distress, the state government has decided to launch the Agriculture Loan Interest Subvention Scheme under the one-time settlement policy, fulfilling a key budget announcement of the state government. The scheme would provide assistance to farmers whose agricultural land is at risk of auction due to loan defaults.
Under this farmer-centric initiative, the government would bear 50 percent of the outstanding interest liability on agricultural loans up to Rs. 3 lakh per farmer. An estimated 6,356 farmers across the state are expected to benefit from the scheme, with a financial outlay of Rs. 50 crore. The scheme would be implemented through the Himachal Pradesh State Cooperative Agriculture and Rural Development Bank and the Kangra Cooperative Agriculture and Rural Development Bank. The concerned branches will identify and prepare the list of eligible borrowers for availing the benefit of interest subvention.
Chief Minister Thakur Sukhvinder Singh Sukhu said that farmers were the backbone of the State’s economy and their welfare remains the government’s foremost priority. He said that many farmers have been facing financial challenges due to adverse circumstances and the government therefore decided to extend this one-time support to eligible beneficiaries.
The scheme would cover farmers whose agricultural loans have become overdue and whose land holdings are under the threat of auction by financial institutions. By sharing half of the outstanding interest burden, the government aims to facilitate loan regularisation, ease financial stress and enable farmers to continue their agricultural activities without fear of losing their land.
The Chief Minister has directed the concerned departments and financial institutions to ensure the expeditious implementation of the scheme so that deserving farmers receive timely assistance.
Reaffirming the State Government’s commitment to the farming community, the Chief Minister said that every possible effort was being made to protect farmers from economic hardship and strengthen the agricultural sector for sustainable growth. He added that the Government was actively promoting natural farming across the state and providing historic support prices for naturally grown crops. This initiative was not only ensuring the availability of chemical-free produce to consumers but also contributing significantly to strengthening the rural economy and enhancing farmers’ income.
The Chief Minister said that the government remains committed to safeguarding the interests of farmers and creating an enabling environment for the prosperity and long-term sustainability of agriculture in Himachal Pradesh.
