Central govt. subsidy on loans to farmers jumps over 5-fold to INR 1.3 lakh crore in 2014-2023

NEW DELHI — There has been a more than 5-fold jump in the amount spent by the Prime Minister Narendra Modi-led government on extending loans at subsidised rates of interest to benefit farmers during the last 9 years compared to the previous 8-year period when the UPA government was in power, according to figures compiled by the Finance Ministry.

These Short Term Crop Loans/Kisan Credit Card are being given under the Modified Interest Subvention Scheme (MISS).

The amount spent by the Central government to extend loans to farmers at subsidised rates of interest shot up to INR 1,30,421.81 crore during the 9-year period from 2014-15 to 2022-23 compared from Rs. 24,525.89 crore that was spent during the 8-year period 2006-07 to 2013-14, the official figures show.

Year-wise allocation and expenditure is given in the following table: