Agricultural loans are availed by a farmer to fund seasonal agricultural operations or related activities like animal farming, pisciculture, or purchase of land or agricultural tools. Seasonal agricultural operations include routine activities like preparing and plowing land for sowing, weeding, and transplantation where necessary, buying inputs such as fertilizers, seeds, insecticides etc. and engaging labor for cultivating and harvesting the crops
In addition purchasing of land or purchasing of agricultural tools, storage of produce, and transport also are included under the purview of agricultural loans.
Farmers can avail of an agricultural loan starting at 8.80% p.a. and with processing fees ranging between zero to 2% of the loan amount.
The state has achieved an average agricultural growth rate of over 10% in the last decade. For the first time in the country, the state has given innovative programs like Krishi Mahotsav and Soil Health Card. An innovative step has been added to this development journey this year. Farmers in the state can get timely information about farm inputs required for farming, state-of-the-art agricultural information can be made available at their fingertips, farmers can easily avail various welfare schemes at home and know the current market prices of weather and agricultural products. The i-farmer portal is implemented by the department.
The state government has announced a budget of Rs. 900 per month for approximately 50,000 farmers for raising cows and shifting them to cow-based aquaculture. Accordingly, the government will now provide Rs. 10800 per cow to the farmers every year. Apart from this, farmers are also required to pay Rs. 50000 will be assisted. In addition, the farmer will be able to build a godown on his farm without NA. For that, the government will provide assistance of Rs 30,000 per farmer. The farmer has to build this godown on his farm and does not have to get any kind of government approval for it.