Ever since our independence, there have been several schemes launched for the betterment of farmers who happen to be the backbone of our economy. And yet, year after year, we get to hear of farmers falling into the depths of debts and more often than not unable to find their way out of the predicament.
To be in a position to help the farmers and to enable them to make a living for themselves, the Rajasthan government has come up with an interest-free Farm loan for Farmers in Rajasthan – the Byaj Mukt Fasal Rin yojana.
About the Rajasthan Byaj Mukt Fasal Rin Yojana
Under the implementation of this scheme, the Rajasthan government has decided to offer farmers in the state loans at 0% interest rate. This will be a loan granted to farmers to help them with their agricultural produce. The prime objective of this scheme is to provide loans to farmers so as to benefit them in tough times.
How to apply for the Interest-free Agricultural Loan scheme?
In order to apply for the scheme, the interested farmer will have to fill a Rajasthan Interest-Free Farm loan scheme application form. This Byaj Mukt scheme will work on an invitation basis, and eligible candidates will be informed through the official portal of the state government at the official online portal of the Rajasthan Government.
In order to avail of the benefit, the applicant has to apply online and the benefits would be offered to the farmer only after his application is thoroughly verified.
Salient features of the scheme:
- The scheme would ideally offer financial assistance to the farmer to carry out agricultural activities
- With no interest attached to the loan, the farmer can think about repaying the loan whenever he can afford it.
- Without any interest piling up, farmers can focus on their farming, and if their produce is not up to the mark, they would not have to worry much about the loan in the first place.
- Farmers usually worry about having to pay off their debts and with that chip on their shoulder, they cannot entirely focus on the needs of their farm, which ends up making matters worse for them.
Through the implementation of the scheme, farmers in Rajasthan can now breathe a sigh of relief, as they can be well funded for their agricultural needs, while also not having to worry about paying debts off.
Summing it up
For a long, farmers in Rajasthan have worried about a massive pile of loans to pay. This scared them enough to approach banks and even apply for loans for the very fact that they felt they cannot repay them.
With these loans in place, farmers can now dare to dream and expect to make returns from their arduous efforts. Now, farmers won’t have to struggle to barely make ends meet. Farmers now can focus on farming and leave the finances for later.