The government has announced ₹30,000 crore in zero-interest farm loans for 38 lakh farmers and ₹100 crore support for maize growers. Plans also include digitalising cooperatives and developing PPP commercial projects in Mysuru and Hubballi.
The state government has announced some major financial relief for farmers who have been struggling with unpredictable weather. This financial year, the cooperative department has been given a target to distribute ₹30,000 crore in zero-interest agricultural loans to 38 lakh farmers. This is a huge step to support the farming community.
On top of this, the government has also responded to the problems of maize growers who were hit by a sharp fall in prices. A sum of ₹100 crore has been announced under the Market Intervention Scheme to purchase maize and support these farmers.
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There are also plans to strengthen the state's Warehousing Corporation financially by monetizing its unused properties. This year, the government will also build commercial complexes in Mysuru (at Bamboo Bazaar) and Hubballi (at Cotton Market) through a Public-Private Partnership (PPP) model.
This year's budget also gives a big technology boost to the cooperative sector. The government plans to fully computerize 1,628 Primary Agricultural Credit Cooperative Societies (PACS). A ₹10 crore project has also been set up to digitalize the operations of APMCs. To make services faster and easier, the government has decided to manage all data online at the Registrar of Cooperative Societies level.
However, not everyone is fully on board with all the proposals. Mysuru-based economist Kottalavadi Shivakumar shared his thoughts. "The zero-interest loan for farmers is a commendable step. The government has also extended a helping hand to maize growers who were not getting fair prices. But, bringing in private partners to monetize the Warehousing Corporation's assets is not a good decision. There's a risk that government assets could end up in private hands. It is the government's duty to store agricultural produce and ensure farmers get good prices for their crops," he said.
