By IANS,
New Delhi : Finance Minister Pranab Mukherjee Friday announced the extension of the existing subvention scheme for providing short term loans to fishermen at 7 percent interest, thus benefitting over 20 lakh people across the country.
“I am happy to announce the extension of the existing interest subvention scheme of providing short term loans to farmers at 7 percent interest with additional interest subvention for timely repayment to fish farmers and fishermen,” the minister said while replying to a debate in the Lok Sabha on the 2011-12 budget proposals.
“This would benefit over 20 lakh fish farmers and fishermen,” he added.
The minister also said that the Rs.500 crore fund proposed to encourage self-reliance among women across the country will be exclusively utilised for refinancing loans given to the women’s self-help groups on soft terms.
The proposed fund will operate through the National Bank for Agriculture and Rural Development.