Kerala Budget: Rs 2,000 crore loan package for farmers, Rs 1,000 cr loan through Kudumbashree

Thiruvananthapuram: Kerala's Finance Minister KN Balagopal announced a Rs 2000 crore loan package for agriculture on Friday.

Infrastructure rejuvenation loan scheme from NABARD for primary cooperative societies at the rate of 4 % interest will be made available through Kerala Bank.

Loans of Rs 1000 crore at reduced rate will be made available to start new enterprises in agricultural, industrial, and service sectors to rejuvenate the existing non-operational enterprises.

“Rs 1000 cr loan will be allowed through the Kudumbashree. Beneficiaries will get up to Rs 5 lakh loan at 4 percent interest. Rs 100 cr set apart for interest subsidy for the scheme,” he said.

The Finance Minister also said that efforts will be taken to link organic farmers to Kudumbashree. Additional Rs 100 cr was announced for Kudumbashree livelihood package

The FM announced several programmes for agriculture in the state.

An initial allocation of Rs 10 crore was made for extreme poverty reduction. Survey will be done to assess extreme poverty and to identify distress factors.

Other important points

•Krishi Bhavans will be modernised with technologies like AI and blockchains. Rs 10 crore is allocated for the same in the first phase.

•Value-added products will be made from fruits that rot fast. A factory will be set up to produce value-added products using milk

•A service network for agricultural products will be set up in two years.

•The implementation of ASEAN agreement by the then UPA government destroyed the agriculture sector

•Rubber subsidy arrears will be paid fully.

•Diversification of plantation crops: There shall be mechanism for cultivation, procurement, storage and finding market for new fruit varieties like rambutan, avocado and dragon fruit, mangosteen, longan etc in addition to traditional plantation crops. An amount of Rs. 2 crore is earmarked for initial activities.

•An amount of Rs 5 crore is allocated for building infrastructure facilities for fish processing considering the possibilities for making value added products.

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