With reference to the scheme of Interest Subvention on Working Capital Loans for Dairy sector consid...........

Economic Affairs Animal Husbandry

With reference to the scheme of Interest Subvention on Working Capital Loans for Dairy sector, consider following statements

Union Government has introduced this scheme for supporting Dairy Cooperatives and Farmer Producer Organizations engaged in dairy activities for implementation during 2020-21.
Under this it has made provisions for providing interest subvention of 2% per annum, with an additional incentive of 2% per annum interest subvention to be given in case of prompt and timely repayment/interest servicing.

Select the correct statement.

1 only

2 only

Both

None

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Explanation:

Recently, Union Government has introduced a new scheme of Interest Subvention on Working Capital Loans for Dairy sector for supporting Dairy Cooperatives and Farmer Producer Organizations engaged in dairy activities for implementation during 2020-21. Interest subvention will be given to Cooperatives and Farmer owned milk producer companies on working capital loan taken from banks and financial institutions between 1st April 2020 to 31st March 2021 for conversion of milk into conserved commodities and other milk products. The scheme has made provisions for providing interest subvention of 2% per annum, with an additional incentive of 2% per annum interest subvention to be given in case of prompt and timely repayment/interest servicing. The scheme will be implemented by this Department of Animal Husbandry through National Dairy Development Board (NDDB), Anand. The scheme will help in providing stable market access to milk producers. This will help to ease out the working capital crisis for handling surplus milk and enable timely payment to the farmers. Hence both statements are correct.