Rs 4,868cr to banks for agri loans
As it was promised in the Budget for 2010-11, the government on Friday approved releasing of Rs 4,868 crore to public sector lenders for re-financing those, who provide concessional loans to farmers. A decision to this effect was taken at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh. This will help farmers get short-term crop loan at 7 per cent interest.
Revealing this, the government, through an official statement, said, “The Union Cabinet on Friday gave its approval for the release of Rs 4,868 crore as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs), Cooperative Banks and Nabard for refinancing RRBs at concessional rates to reimburse the amount of interest subvention to ensure that the farmer, in general, should receive short-term crop loan at 7 percent per annum this fiscal.”
The lenders, who have given loans to farmers at 9 per cent, had to realise the subsidy of 2 per cent, which till now had not been provided by the government. This interest subvention scheme has been continued for 2010-11 for public sector banks, regional rural banks and cooperative banks. In 2009-10, an additional subvention of one per cent was being provided to farmers who repaid on time.
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HC judges’ retirement age cleared
AGE CORRESPONDENT
New Delhi
July 30: The government on Friday cleared a Constitution Amendment Bill, which proposes to increase the retirement age of high court judges from 62 to 65 years. The move, if passed by the Parliament and gets the consent of 50 per cent of the state Assembly, will benefit around 630 judges of the 21 high courts in the country.
Confirming that the decision to this effect was take at the meeting of Union Cabinet chaired by PM Manmohan Singh, official sources said, though the law ministry is keen on introducing the legislation in the current session of Parliament, various political parties will have to be taken into confidence. This is needed, as a constitutional amendment Bill require the support of two-thirds of the members in both Lok Sabha and Rajya Sabha, for it to be passed, they added. Law minister M. Veerappa Moily favours a consensus to emerge before moving the amendment. The last time the retirement age of HC judges was increased was in 1963. The age was then increased from 60 to the present 62 years.
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Maha tops in suicide of farmers’
Age Correspondent
New Delhi
July 30: As many as 224 farmers have committed suicide in four states — Karnataka, Andhra Pradesh, Maharashtra and Punjab — so far this year, agriculture minister Sharad Pawar informed the Parliament.
Of the total number of suicides, the maximum were from Maharashtra (131), followed by Karnataka (81), Andhra Pradesh (7) and Punjab (5), according to data submitted by Mr Pawar to the Rajya Sabha.
The farmer suicides in the four states were mainly due to agrarian reasons, the minister said.
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