Agriculture Funds: Farmers will be able to buy solar pumps cheaply, it will be easy to take loans with the new RBI rules
new Delhi. The government has come up with a special plan to promote solar pump and compressed biogas plants. Under this, farmers will now be able to get solar pumps at cheaper rates. For this, they will also get a loan easily. Small farmers will benefit under the new rules of the Reserve Bank of India. Not only this, some relaxation will also be given by the government. For this, Agri Infra Funds will be used by the Central Government.
The government has set a target of installing 17.50 lakh solar pumps by 2022. Currently, the government has an Agri Infra Fund of Rs 1 lakh crore. Through this, farmers will be given financial help in setting up solar plants and compressed biogas plants. Under the new government rule, now the banks in the districts where the banks were distributing priority category loans less will now have to give more preference. This will enable farmers to get loans easily.
Small farmers will benefit from the new rule
The RBI has eliminated regional disparities in loans under the priority sector. This will provide more loans to small, marginal farmers and weaker sections of society. In this, even those farmers who have limited resources will be able to take loans easily. The bank will provide loans keeping in mind their needs. The good thing is that they will also get enough time to repay the debt.
These schemes for solar plants also work
Apart from the Agri Fund, PM Kusum Scheme is also run by the Modi government. This has been included under the Poor Welfare Scheme. Under this scheme, farmers have to pay only 10% of the amount to install solar panels. The remaining amount is sent as subsidy to the bank account of the farmers. Not only this, they can also double their earnings by generating electricity through solar panels and selling it.