Dharamshala, June 28 -- Himachal Pradesh government has decided to launch the Agriculture Loan Interest Subvention Scheme under the one-time settlement policy, fulfilling a key budget announcement of the state government.

The scheme would provide assistance to farmers whose agricultural land is at risk of auction due to loan defaults. Under this farmer-centric initiative, the government would bear 50% of the outstanding interest liability on agricultural loans up to Rs.3 lakh per farmer. An estimated 6,356 farmers across the state are expected to benefit from the scheme, with a financial outlay of Rs.50 crore.

The scheme would be implemented through the Himachal Pradesh State Cooperative Agriculture and Rural Development Bank and the Ka...