Union Budget KCC limit increased to 5 Lakhs: India’s Finance Minister Nirmala Sitharaman is presenting the budget in Parliament. In this budget, many big announcements have been made for the people associated with agriculture and the villagers. Presenting the budget, Finance Minister Nirmala Sitharaman said that reforms will be taken forward in tax, electricity, agriculture, mining and urban sector.
During this, the Finance Minister also announced the ‘Pradhan Mantri Dhan Dhyan Krishi Yojana’. He said that under this, 100 districts with low yield, modern crop intensity and below average loan parameters will be included. This will directly benefit 1.7 crore farmers.
Makhana Board to be set up in Bihar
Finance Minister Nirmala Sitharaman also announced the establishment of Makhana Board in Bihar. He said that Makhana Board will be set up in Bihar to promote the production, marketing and processing of Makhana.
Apart from this, the Finance Minister announced that the National Cooperative Consumers Federation of India and the National Agricultural Cooperative Marketing Federation of India will purchase pulses in the next four years.
Farmers will get special benefits
Finance Minister Nirmala Sitharaman said that under the revised interest waiver scheme under the Kisan Credit Card (KCC limit), the loan will be increased from Rs 3 lakh to Rs 5 lakh.
The Finance Minister said that the government will launch a 6-year program to become self-sufficient in pulses. Under which special focus will be on tur, urad and lentils.
She said that a comprehensive program will be started to increase the production of vegetables and fruits and get remunerative prices. Apart from this, a national mission of high-yielding seeds will be started.
Loan guarantee cover will be increased under MSMI
Sitharaman said that the government will increase the loan guarantee cover for micro, small and medium enterprises (MSMI) to improve their access to loans. Apart from this, the government will introduce ‘customized’ credit cards with a limit of Rs 5 lakh for micro enterprises.
He said Kisan Credit Cards will provide short-term credit facility to 7.7 crore farmers, fishermen and dairy farmers. He said term loans up to Rs 20 crore will be provided to well-run export-oriented MSMEs.
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