Congress Lok Sabha Whip seeks clarity on farmers loan scheme

In a letter to Prime Minister Narendra Modi and Union Finance Minister Arun Jaitely, K C Venugopal, who is also the Congress Whip in Lok Sabha, said there was no word yet on whether or not the scheme, introduced by the UPA government, would be continued in the new financial year.

Venugopal, who held portfolios of power and civil aviation as a minister of state in UPA-II government, claimed that Reserve Bank of India had so far not issued necessary circular extending the operation of the scheme for 2015-16.
In the letter, he said the centre should "make clarity in the (budget) statement regarding the farmers interest subvention scheme."

He said the UPA Government had approved a scheme for providing short-term crop loans at concessional rate of seven percent to farmers.