Daijiworld Media Network – Chennai

Chennai, Aug 24: The Tamil Nadu government on Saturday announced that crop loans worth Rs 17,000 crore will be extended to farmers across the state this year, along with Rs 3,000 cr in loans for livestock development.

Last year, crop loans amounting to Rs 15,062 cr were disbursed to 17.37 lac farmers, while livestock loans worth Rs 2,645 cr benefited 4.43 lac farmers.

Highlighting the success of Chief Minister M K Stalin’s efforts, the government said crop loans are now sanctioned on the very day farmers submit their applications online. The instant crop loan scheme, launched on a pilot basis in Dharmapuri on August 17, ensures timely credit through Primary Agricultural Cooperative Societies (PACS).

With the new system, farmers need not visit PACS in person. They can apply through e-service centres and receive up to Rs 5 lac as crop loans on the same day. The initiative is now being expanded across Tamil Nadu.