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CM Bommai raises loan term limitations and agri subsidies in Karnataka budget

CM Bommai raises loan term limitations and agri subsidies in Karnataka budget

Bengaluru: Karnataka's Chief Minister Basavaraj Bommai stated on Friday that the state would double the amount of money farmers could borrow at zero interest for the next fiscal year, from Rs 3 million to Rs 5 million.

Bommai, who also holds the finance position, announced this when he presented the 2023-34 budget to the state Legislative Assembly. This would guarantee the availability of a need-based financing facility for farmers to make the essential preparations for agricultural activities.

More than 30 million farmers would share in a loan pool of Rs 25,000 crore this year, he said.—Inputs from Agencies

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