Karnataka disburses 0% interest loans to 13,689 farmers this year amid funding constraints
Bengaluru: The Karnataka government has reportedly disbursed zero-interest farm loans to 13,689 farmers in the current financial year, despite 1.73 lakh farmers across the state meeting the eligibility criteria.
Co-Operation Minister K.N. Rajanna attributed the limited loan distribution to a reduction in funds from the National Bank for Agriculture and Rural Development (NABARD), Deccan Herald reported on Wednesday.
Responding to a query by BJP MLC Prathap Simha Nayak, Rajanna stated, “Last year, we disbursed Rs 5,800 crore in farm loans. However, with NABARD slashing its subsidised loan for the agriculture sector by 58 percent, we were unable to provide loans to all farmers.”
Meanwhile, data presented before the House revealed that the state government granted loans only to 6,744 farmers, with a total disbursement of Rs 290.51 crore, DH added.
Rajanna expressed concern over farmers preferring to deposit their savings in commercial banks while seeking loans from co-operative societies.
The minister noted that farmers should understand that co-operative societies cannot print notes. “Co-operative societies have no other resources. Due to the shortage of funds, we cannot disburse the entire loan,” he added.
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French President Macron concludes Mumbai visit
Mumbai (PTI): French President Emmanuel Macron, along with First Lady Brigitte Macron, left Mumbai for New Delhi on Wednesday after concluding his engagements here, including bilateral talks with Prime Minister Narendra Modi.
They were seen off at Chhatrapati Shivaji Maharaj International Airport by Maharashtra Governor Acharya Devvrat, Chief Minister Devendra Fadnavis and Deputy CM Eknath Shinde.
On Tuesday, Macron held discussions with Modi as part of efforts to further strengthen India-France strategic ties.
During the Mumbai visit, the French president and his wife also met some of India's top filmmakers and actors, and had an animated exchange with them about cinema, culture and collaboration.
President Macron is on an official visit to India from February 17 to 19 at the invitation of PM Modi to participate in the AI Impact Summit hosted by India in the national capital Delhi, besides the bilateral summit in Mumbai.
PM Modi will inaugurate the summit on February 19. As many as 20 heads of states, including French President Macron, will be present at the inaugural session, Electronics and IT Secretary S Krishnan said.
