Kisan Credit Card Limit : The Finance Minister of India Nirmal Sitharaman presented a Union Budget for 2025-26. Several big announcements were made in the budget. Income up to Rs 12 lakh was tax exempted as well as the elderly from filing tax returns. Out of all these, agriculture has given a great gift to the country’s grain donors. The limit of Kisan Credit Card was increased and the schemes and their amount put a smile on the faces of the farmers.
The Finance Minister had announced the Pradhan Mantri Dhan Yojana for farmers at the beginning of the budget. He also announced to increase the limit of Kisan Credit Card. Farmers across the country, including Bihar, have benefitted from this budget. The Finance Minister of Indian is announcing to increase the limit of Kisan Credit Card.
Increasing the credit card limit will help 7.7 crore farmers
- This credit card limit has been increased from Rs 3 lakh to Rs 5 lakh. Along with this, the limit of marriage assistance scheme has been increased from 3 lakh to 5 lakh.
- Finance Minister Nirmala Sitharaman said that with the Kisan Credit Card, 7.7 crore farmers, fishermen and dairy farmers will get credit facility in a short time.
- The Kisan Credit Card Scheme was launched to provide timely and reasonable credit to farmers for farming and agriculture related work.
- This includes 2 percent interest subsidy to farmers and 3 percent early repayment incentive.
- Loans will be provided to farmers at fully subsidised rates every year. In 2012, it was modified to simplify and issue electronic farmer credit cards.
How will farmers benefit?
- With the announcement of the budget, borrowers fall under the eligibility category of farmers, self-sufficient farmers lending, verbal lessees and farmers working with distribution. In addition, tenants including SHGs, shareholders i.e. self-help groups and JLGs i.e. joint liability groups also come under the ambit of the scheme.
- Increasing the limit of Kisan Credit Card will benefit from further helping in seamless transactions with Kisan Input Dealers. When they sell their produce at procurement centres, the proceeds from the sale are deposited in their accounts.
What is Kisan Credit Card Scheme?
Loans can be made available to farmers at an affordable interest rate through credit cards. The role of credit cards becomes important in this. Increasing this limit from 3 lakh to 5 lakh will benefit the farmers. The scheme was launched in 1998 by the central government, the Reserve Bank and NABARD. It was called Kisan Credit. The benefit of this card is available not only for farmers but also for fish farmers or livestock breeders.
Dhan Dhan scheme will prove to be beneficial for farmers
The big announcement made by the Finance Minister for farmers in the budget is the Dhan Dhan Yojana. The scheme will cover 100 districts with low yield, low yield capacity for modern crop yield and 100 districts with below average credit standards. This will benefit about 1.7 crore farmers of the country. In addition, a 6-year mission to increase self-sufficiency in cooking oil was also announced.