The union government has been providing liquidity support for farmers and rural economy over the last two months through banks, Kisan credit cards and interest subvention schemes, finance minister Nirmala Sitharaman said on Thursday while addressing a press conference on economic package related to migrant labourers, small farmers, and street vendors.

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From March 1 to April 30, the government has approved 63 lakh loans worth Rs 86,600 crore in the agriculture sector while refinancing of Rs 29,500 crore has been provided by NABARD to cooperative banks and regional rural banks in March, she said.

Further, support of Rs 4,200 crore has been provided under Rural Infrastructure Development Fund to States during March for rural infrastructure.

Meanwhile, 3 crore farmers with agricultural loans of Rs 4.22 lakh crore have availed the benefit of 3 months loan moratorium. Interest Subvention and Prompt Repayment Incentive on crop loans, due from March 1 are extended up to May 31, 2020, Sitharaman said.

Also, 25 lakh new Kisan Credit Cards were sanctioned with a loan limit of Rs 25,000 crore post COVID-19 outbreak.

Working capital limit of Rs 6,700 crore has been sanctioned for procurement of agriculture produce of state government entities since March, Sitharaman informed.

“The central government has permitted state governments to utilize SDRF for setting up shelter for migrants and providing them food and water etc... We are conscious, we are attending to the migrants and giving them in various different ways,” Sitharaman added.

Also Read: Second stimulus tranche: Nirmala Sitharaman announces rent, ration and free food for migrants; Rs 2 lakh crore concessional credit for farmers

First Published:May 14, 2020 4:50 PM IST