JK Lieutenant Governor says step will be a huge booster
Srinagar: Lieutenant Governor Manoj Sinha expressed gratitude to the Prime Minister of India and Agriculture Minister for announcing the availability of credit for the High-Density Plantation Scheme under the Agriculture Infrastructure Fund.
I, on behalf of the people of Jammu and Kashmir, convey the deepest gratitude to Prime Minister Narendra Modi and Minister of Agriculture and Farmers Welfare Narendra Singh Tomar for announcing the availability of credit for the High-Density Plantation Scheme (HDPS) under the Agriculture Infrastructure Fund Scheme, said the Lt Governor.
Listing out the key features and support being extended to the farmers under the new intervention, the Lt Governor said that this step will be a huge booster for achieving the target of 5500Ha of High-Density Plantation for next 5 years and change the horticulture landscape of JK, said the Lt Governor.
This will also become the launching pad for the export of our Horticulture produce and will increase the income of farmers of J&K manifold, besides making our farmers market leader in the domestic circuit in the sector, he added.
The 50% capital support up to Rs 22.15 lac/ is being provided by JK administration under High-Density Plantation Scheme.
A common farmer used to find it difficult to arrange another 50% capital due to the high-interest rate.
Now, the inclusion of HDPS under Agriculture Infrastructure Fund Scheme will make available the credit on interest subvention of 3% per annum for 7 years, said the Lt Governor.
Further, the Credit Guarantee coverage will be available for this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises Scheme for loans up to Rs. 2 crores, he added.