(Image source from: Twitter.com/ANI)
Centre Announces Assured Rs 6000 Income Per Year For Farmers:- With the Lok Sabha elections heading across the country this year, Finance Minister Piyush Goyal presented the sixth and final budget today in the Parliament house. Goyal revealed that they brought down the inflation from 10% to 4%. The major highlight of this budget is the farmer income support scheme in which Rs 6000 per year is promised as the fixed income for all the farmers in rural regions.
For all the farmers having up to 2 hectares of land, they will be given Rs 6000 per year in three equal installments. Goyal revealed that this would benefit 12 crore small and marginal farmers across the country and the total expenditure of the scheme is valued at Rs 75,000 crores which will be borne by the Centre. The scheme will be effective from December 1st 2018 informed Goyal.
Instead of scheduling the crop loans again, the farmers who lose badly by natural calamities will get 2% interest subvention and 3% additional interest subvention upon the timely repayment.