By admin       2019-04-29

Hyderabad: The State Level Bankers’ Committee (SLBC), the highest body of bankers in the state, after multiple consultations with the state government, has come up with the scale of finance (SOF) for different crops (per acre) for 2019-20. This year most farmers will get between Rs 4000 and Rs 5000 per acre as the higher scale of finance. The report, which is in possession of TOI, has recommended highest SOF, which has been fixed between Rs 1,10,000 and Rs1,40,000 per acre, for cotton seed famers, while among fruits the seedless grape variety would get Rs 1,20,000-125000 per acre. Ragi and bajra would get the lowest SOF at Rs 12,000 and Rs 14,000, and Rs 10,000 and 12,000 respectively. In all, 119 crops, including fruits, vegetables, spices, agriculture and floriculture, were brought under SOF for the year 2019- 20.The highest increase of SOF, compared to last year, was noticed in sugarcane plantation, which rose from Rs 44,000- 55,000 to Rs 70,000–75,000 this year. Similarly, chilli crop would also get a high scale of Rs 55,000-Rs 66,000 from Rs 48,000-Rs58,000. In a few districts like Adilabad (brinjal with mulching), Hyderabad (onion), Mahbubnagar (banana–Rathon and tissue culture),Medak (ginger and paddy seed production), Nalgonda (coriander, acid lime, custard apple, watermelon and fig, turmeric and capsicum), the SLBC recommended lower SOF on verification. In Hyderabad for urban horticulture, for 720 square foot (sft), loan would be provided between Rs 9000-Rs 30,000 in three cycles. However, there would be no change in SOF for growing 16 medicinal and aromatic plants. Also, the rate of interest would be linked to the base rate and has been left to the discretion of banks. Loans would be granted by way of Kisan credit card/agricultural cash credit. The farmers have to repay the loan in a lump sum on harvesting and marketing the crop. The repayment date has been fixed, linked to harvesting and marketing. Owner and tenant cultivators are ready to adopt modern methods would be eligible for loans.

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