Rajahmundry: Pointing out to the farmers that they could utilize the Loan Eligibility Cards to avail a host of benefits, Chief Minister N Kiran Kumar Reddy on Sunday launched the innovative scheme by handing out the LECs to some tenant farmers in Rajahmundry of East Godavari district.
Addressing the gathering of farmers on the occasion, Mr Kiran Kumar Reddy reminded them that the LEC holders are eligible to not only loans up to Rs 50,000 at 3 per cent interest without any sureties, they will also get input subsidies, compensation against crops loss due to calamities, and interest rebate for prompt repayment.
The Chief Minister also reminded the tenant farmers that they will have to provide surety along with the cards for loan beyond Rs 50,000 and up to Rs 1 lakh.
He said that the government would establish a Mahila Bank with an investment of Rs 500 crore to provide loans to women and Self Help Groups.
The card is valid for only one year and renewal is allowed, he emphasised.
Besides talking about the innovative scheme, Mr Kiran Kumar Reddy also referred to the Polavaram Irrigation Project, saying that the tenders had been called by August 1. The Chief Minister also pointed out that the state government has been pressing the Centre to accord National Project status for Polavaram project.
Besides this, the state government has been pressing the Centro to accord permission to export 25 lakh tones of rice to other states, the Chief Minister added.
Earlier the Chief Minister laid foundation stones for development projects worth Rs 60 crore in the district.
Revenue Minister N Raghuveera Reddy and Finance Minister Anam Ramnarayana Reddy were also present. (INN)