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Odisha Govt launches ‘Balaram Yojana’ to provide crop loan

Odisha Govt launches 'Balaram Yojana' to provide crop loan_4.1

Odisha government has launched ‘Balaram Yojana’ to provide crop loans to landless farmers. Under the new scheme, the landless cultivators will get loans through joint liability groups (JLGs).

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About ‘Balaram Yojana’:

  • Under ‘Balaram’ scheme, the government has set a target to provide farm loans to 7 lakh landless farmers in the next two years.
  • While the Institute on Management of Agricultural Extension (IMAGE) will coordinate to implement the scheme at the state level, the Agricultural Technology Management Agency (ATMA) will coordinate at the district level.
  • It has set aside Rs 1,040 crore for the purpose. In rural and small towns, around 7,000 branches of several banks and Primary Agricultural Cooperative Societies will coordinate the implementation.
  • The interest rate and subsidy on the loan amount will be decided as per the guidelines of the State farm loan rules.
  • The scheme comes in collaboration with the National Bank for Agriculture and Rural Development.

Important takeaways for all competitive exams:

  • Chief Minister of Odisha: Naveen Patnaik; Governor of Odisha: Ganeshi Lal.

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Odisha Govt launches 'Balaram Yojana' to provide crop loan_5.1

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