Agriculture

Modi set to unveil measures to support farmers as elections near, says report

Updated : December 26, 2018 10:06 AM IST

The government is looking at measures such as doubling collateral-free loans under Kisan Credit Cards to Rs 2 lakh and changes in the Pradhan Mantri Fasal Bima Yojana crop insurance scheme: report

The development comes as the ruling BJP suffered serious setbacks in the recently held state elections.

The government is considering various measures aimed at supporting distressed farmers ahead of the general election, reported The Economic Times.

The government is looking at measures such as doubling collateral-free loans under Kisan Credit Cards (KCCs) to Rs 2 lakh and changes in the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme to enhance coverage and ensure faster settlement of claims to bring consolation to the agrarian sector, the report said citing a senior unnamed official.

The official also added that the Niti Aayog is holding discussions with the ministries of agriculture and finance on all possible steps, including the feasibility of a loan waiver.

The development comes as the ruling BJP suffered serious setbacks in the recently held state elections, raising concerns over party’s prospects in the upcoming parliamentary elections. Many had pointed to the anger of farmers as the prime reason for the BJP’s setback.

Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.

Modi set to unveil measures to support farmers as elections near, says report

You May Also Like

Raj Thackeray fined Rs 1,000 for not wearing mask aboard ferry

CAMS IPO Day 1: Issue subscribed 82%; retail quota sees 1.4 times subscription

CAMS IPO issue opens with a price band of Rs 1,229-1,230/share: Should you subscribe?

Trending on CNBC-TV18

recommended for you