Question
Download Solution PDFThose farmers who repay crop loans immediately are given additional interest subsidy at the rate of ________% by the Government of India.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe Correct Answer is 3%.
Key Points
- Those farmers who repay crop loans immediately are given additional interest subsidies at the rate of 3%.
Important Points
- Interest subsidy is a benefit that the government provides by paying off some or all of your loan interest.
- Since the year 2009-10, the Government of India introduced an additional subvention of 1% to farmers as an incentive for repaying the loans promptly i.e. on or before the due date or the date fixed by the bank, subject to a maximum period of one year. It has been increased to 2% for 2010-11 and 3% from 2011-12.
Last updated on Jun 19, 2025
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