Nation

Cabinet approves interest subvention of 1.5 percent on Short Term Agriculture Loan upto Rs 3 lakh

Cabinet has approved interest subvention of 1.5 percent on Short Term Agriculture Loan upto three lakh rupees. Briefing media after the Cabinet meeting in New Delhi this afternoon, Information and Broadcasting Minister Anurag Thakur said the decision has been taken to ensure adequate credit flow in agriculture sector. He said the interest subvention of 1.5 percent will be provided to lending institutions by the government. A total of 34 thousand 856 crore rupees will be provided to lending institutions by the government.

Government also approved enhancement of limit of Emergency Credit Line Guarantee Scheme by 50 thousand crore rupees for Travel, Tourism and Hospitality sector. Hospitality and related sectors will get a boost from this decision.

The Minister said Cabinet also approved providing the access of the Traditional Knowledge Digital Library database to users including patent applicants and researcher.

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