The government has launched a two-month special drive in mission mode to issue Kisan Credit Cards (KCCs) to 1.5 crore dairy farmers from milk unions and milk production companies, an official statement said on Monday.
The campaign will run from June 1 to July 31, according to a statement from the Ministry of Fisheries, Animal Husbandry and Dairy.
The Department of Animal Husbandry and Livestock, in collaboration with the Department of Financial Services, has already issued relevant circulars and KCC application formats to all state milk federations and milk unions for its application in mission mode, the statement said.
PM’s Atma Nirvar Bharat package for farmers
Special drive to provide KCC to 1.5 crore dairy farmers As part of the Prime Minister’s Atma Nirvar Bharat package for farmers, Finance Minister Nirmala Sitharaman announced on May 15 that 2.5 crore new farmers would come under the KCC project. It will provide additional liquidity of Rs 5 lakh crore to the farmers who are suffering from the recent recession in the economy.
About 1.7 crore farmers are associated with about 270 milk unions of the country under the Dairy Cooperative Movement.
The statement said that in the first phase of the campaign, the aim is to cover all the farmers who are members of the Dairy Cooperative Society and are affiliated with various milk unions and who do not have KCC.
Assistance to farmers
Farmers who already have KCC on the basis of land ownership will be able to increase the credit limit of their KCC, though interest subsidy will be available only in the amount of Rs three lakh, according to the statement.
Although the general credit limit of KCC without collateral remains at Rs 1.6 lakh, for those whose milk is procured directly by the Milk Union, an intermediary between the producers and the processing units comes under the waiver system and hence the credit limit without collateral can be up to Rs 3 lakh. Must be. This will ensure the availability of more credit to dairy farmers associated with milk unions as well as rescheduling loans to banks, the department said.
As the dairy sector has been among the fastest growing sectors of the CAGR economy above 100 percent in the last five years, providing short-term credit to dairy farmers to meet their working capital, marketing, etc. needs will increase their productivity surprisingly, the statement said.
(With IANS input)