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Government to provide Rs 30,000 crore emergency funding for farmers through NABARD

Government to provide Rs 30,000 crore emergency funding for farmers through NABARD

Government to provide Rs 30,000 crore emergency funding for farmers through NABARD
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By CNBC-TV18 May 14, 2020 5:37:37 PM IST (Published)

To benefit around 3 crore farmers, mostly small and marginal farmers, Narendra Modi government on Thursday announced Rs 30,000 crore additional emergency working capital funding through NABARD.

To benefit around 3 crore farmers, mostly small and marginal farmers, Narendra Modi government on Thursday announced Rs 30,000 crore additional emergency working capital funding through the National Bank for Agriculture and Rural Development (NABARD).

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Announcing the second tranche of economic stimulus package, finance minister Nirmala Sitharaman said, "NABARD will extend additional refinance support of Rs 30,000 crore for crop loan requirements."
"This is over and above Rs 90,000 crore to be approved by NABARD through normal finance methods to benefit 3 crore farmers, mostly small and marginal farmers, to meet post harvest Rabi and current Kharif requirement in May/June," she added.
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