The Arunachal Pradesh cabinet has approved two credit-linked schemes, which will facilitate Rs 300 crore investments in the agro-based sector.
Home minister Bamang Felix said the government has earmarked Rs 60 crore each for Atma Nirbhar Krishi Yojana for agriculture and Atma Nirbhar Bagwani Yojana for horticulture during 2021-22 fiscal.
The decision was taken in a cabinet meeting on Thursday which was chaired by Chief Minister Pema Khandu.
The credit-linked programmes will have three components – bank loans, subsidy and beneficiaries’ contributions.
The cabinet meeting decided that the share of subsidy would be 45 per cent in the schemes, while a beneficiary needs to contribute 10 per cent and the rest will be bank loans, Felix said.
He said the schemes will be available for cultivators, self-help groups and farmer producer organizations (FPOs).
Under the programmes, a farmer can get up to Rs1.6 lakh with no collateral or bank guarantee, while self-help groups can avail of up to Rs 10 lakh, the government spokesperson said.
“The schemes will be available across the state, and people need to apply at the deputy commissioner office in their respective districts. We expect about 300 crore investment will be done in the sectors through these schemes. Of which, the government subsidy component will be of Rs 120 crore,” Felix said.