Tamil Nadu govt to provide Rs 17,000 cr crop loans to farmers

The Tamil Nadu government on Saturday announced that crop loans worth Rs 17,000 crore would be extended to farmers in the state this year. In addition, loans to the tune of Rs 3,000 crore would be provided for livestock development.

Last year, the government disbursed Rs 15,062 crore in crop loans to 17.37 lakh farmers and Rs 2,645 crore in livestock development loans to 4.43 lakh beneficiaries.

Owing to the efforts of Chief Minister M K Stalin, crop loans are now sanctioned on the same day farmers submit their applications online, a government release said.


"This exemplary instant crop loan scheme ensures credit through Primary Agricultural Cooperative Societies (PACS) on the very day farmers apply online," it said.

The chief minister had launched the instant crop loan scheme through PACS on a pilot basis in Dharmapuri on August 17.

He had also announced that the initiative to streamline loan applications would be rolled out across the state.

"Farmers no longer need to visit PACS in person to obtain crop loans. They can apply online and receive the loan amount on the same day through e-service centres," the release added.

A maximum of Rs 5 lakh is provided to each farmer.