Shimla, June 27 -- In a major relief for distressed farmers, the Himachal Pradesh government has approved the Agriculture Loan Interest Subvention Scheme under a one-time settlement policy, under which it will bear 50 per cent of the outstanding interest on overdue agricultural loans of up to Rs 3 lakh per farmer.
The scheme, announced as part of the state budget, aims to provide financial assistance to farmers whose agricultural land is at risk of auction due to loan defaults.
Chief Minister Thakur Sukhvinder Singh Sukhu said on Saturday that about 6,356 farmers across the state are expected to benefit from the scheme, which has a financial outlay of Rs 50 crore.
The scheme will be implemented through the Himachal Pradesh State Cooperat...