Budget 2025:As Union Budget 2025 approaches, expectations have increased in every sector. Especially the agriculture sector has big expectations from this budget. According to a report by Business Standard, the government is considering increasing the limit of Kisan Credit Card (KCC) so that farmers can get more help.
KCC Limit can be ₹3 Lakh to ₹5 Lakh
At present, the maximum limit under the Kisan Credit Card Scheme is ₹3 lakh. But according to reports, there is a discussion to increase it to ₹5 lakh. The report states that the KCC limit has not been revised for a long time, due to which the demand for increasing it is increasing. This step can be taken to strengthen the rural economy and provide financial assistance to farmers.
Benefit of cheap loan to farmers
Under the Kisan Credit Card Scheme, farmers get loan at a base interest rate of 9%. In this, the government gives a subsidy of 2% and farmers who repay the loan on time get an additional 3% discount. That is, on timely payment, the interest rate for farmers remains only 4%. This scheme, launched in 1998, has provided financial assistance to millions of farmers so far.
Waiting for other big announcements
Apart from increasing the KCC limit, farmers are also expecting improvements in schemes like Pradhan Mantri Fasal Bima Yojana and PM-Kisan Samman Nidhi Yojana. Currently, under the PM-Kisan scheme, farmers get three installments of ₹ 2,000 annually. Farmers want this amount to be increased or a new relief scheme to be introduced so that their financial troubles are reduced.
Rural economy will get a boost
The proposal to increase the KCC limit is being considered a big step towards empowering the agriculture sector and strengthening the rural economy. This will give farmers better access to cheap credit and ensure their financial stability.
All eyes are on Budget 2025 whether these changes will become a reality and whether it will give relief and new hopes to the agriculture sector.
