Rajasthan Govt To Offer Subsidy On Home Loans To Farmers-Apply Now

The farmer will benefit from a government loan interest subsidy by constructing a home on the farm. For instance, a farmer can obtain a loan at 8 per cent interest if the home loan from a cooperative bank has a 13 per cent interest rate.

The Indian government is currently making rapid progress on its objective to raise farmers' incomes. The government is operating a number of programmes for farmers to help with this. The government wants the farmer to receive the advantage of these programmes so that their income would increase.

Nevertheless, farmers are unable to take advantage of these programmes due to a lack of information. Many government schemes lend money to farmers so they may continue doing their work. But only a small number of people are aware that the government also offers loans to farmers for the construction of homes in their fields as well as the benefit of subsidy on it.

The Rajasthan farmers are the target audience for this programme. Farmers can obtain low-interest loans through this programme to construct homes.

Media reports state that beginning with the fiscal year 2023–2024, farmers who take out mortgage loans to construct homes in their fields would henceforth receive a 5% interest subsidy. Also, Rajasthan Chief Minister announced an interest-free agricultural loan distribution programme and an interest subsidy for farmers in the budget for 2023–24.

This announcement states that farmers who borrow money to construct homes in their fields would also receive a 5% interest subsidy. if the farmer needs to borrow money for this from a cooperative bank. It should be noted that beginning on April 1, 2014, the state government would provide benefits to farmers who return long-term agricultural cooperative loans on the given time. Given that only long-term loans are provided for house construction, this will be equally relevant to the loan for constructing a home on the farm.

The farmer will benefit from a government loan interest subsidy by constructing a home on the farm. For instance, a farmer can obtain a loan at 8 per cent interest if the home loan from a cooperative bank has a 13 per cent interest rate.

The government would also give the farmer a 5% interest subsidy at the same time. Farmers can quickly and affordably construct their own homes in this fashion. In addition to receiving a loan with cheap interest rates for building a house on the farm, the farmer will also be able to easily keep an eye on the property around-the-clock thanks to the house.