Madhya Pradesh CM Shivraj Singh Chouhan has transferred ₹800 crores to Cooperative Banks to be given as 0% interest loans to farmers in the state. He said that sustaining the Cooperative movement is the backbone of fostering economic growth.
“Cooperative movement is the core of India. It is the spirit of everyone’s well being and welfare and the welfare of farmers is the goal of my life,” he said at the event. Under this scheme, all eligible beneficiary farmer families of PM Samman Nidhi will be paid a total of ₹4000 in two installments in a financial year.
“With a view to the overall development of the farmers, we have decided that the schemes being run in their interest, such as – Relief under RCB6 (4), PM Kisan Samman Nidhi, loan at zero percent interest, Prime Minister crop insurance will be implemented as a package,” he added.
These schemes aim to double the income of farmers by 2020.