Union Finance Minister Nirmal Sitharaman presented the budget for the year 2025-26. Many big announcements were made in the budget. Along with tax exemption on income up to 12 lakhs, the elderly were also given exemption in filing tax returns. Amidst all this, a big gift has been given to the food producers of the agricultural country. The limit of Kisan Credit Card was increased and the schemes and their amounts also brought smiles on the faces of the farmers.
The Finance Minister announced the Pradhan Mantri Dhan Dhanya Yojana for the farmers at the beginning of the budget. Along with this, the announcement of increasing the limit of Kisan Credit Card was also made. In this budget, farmers of the whole country including Bihar have got the benefit. The Finance Minister has announced to increase the limit of Kisan Credit Card.
Increasing the limit of credit cards will provide convenience to 7.7 crore farmers.
This limit of credit card has been increased from Rs 3 lakh to Rs 5 lakh. With this, the limit of marriage assistance scheme has now increased from 3 lakh to 5 lakh.
Finance Minister Nirmala Sitharaman said that 7.7 crore farmers, fishermen and dairy farmers will get loan facility in less time through Kisan Credit Card.
Kisan Credit Card Scheme was started to provide timely and proper loan to farmers for farming and agriculture related works.
This includes 2 percent interest assistance to farmers and a 3 percent early repayment incentive.
Farmers will be able to get loan at very concessional rates every year. In the year 2012, it was amended to simplify it and issue electronic Kisan Credit Card.
How will farmers get the benefit?
With the budget announcement, borrower farmers, self-reliant farmers giving loan, oral lessees and sharecropping farmers come under the eligibility category. Apart from this, SHG i.e. Self Help Group and JLG i.e. Joint Liability Group including tenant farmers, sharecroppers also come under the purview of this scheme.
The benefit of increasing the limit of Kisan Credit Card will be that it will help farmers in seamless transactions with input dealers. When they sell their produce at procurement centers, the sales proceeds are deposited in their accounts.
What is the Kisan Credit Card Scheme?
Loans can be made available to farmers at cheap interest rates through credit cards. The role of credit cards becomes important in this. Increasing the limit from 3 lakhs to 5 lakhs will give additional benefits to farmers. This scheme was launched in 1998 by the Central Government, Reserve Bank and NABARD. It was named Kisan Credit. This card benefits not only farmers but also fish farmers or animal breeders.
Dhan Dhanya Yojana will prove beneficial for farmers.
The big announcement made by the Finance Minister for farmers in the budget is Dhan Dhanya Yojana. This scheme will include 100 districts with low yield, areas with potential for modern crop yield and below average loan parameters. This will benefit around 1.7 crore farmers of the country. Apart from this, a 6-year mission was also announced to increase self-sufficiency in edible oil.
Farmers cultivating Makhana in Bihar will get benefits.
In this budget, Bihar has been given special attention. Makhana is cultivated in Bihar. The formation of the Makhana Board was also announced for the benefit of such farmers. The formation of this board will encourage everything from the production of Makhana to its marketing. Makhana farmers will benefit a lot from this announcement.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
