Enhancing limit for interest subvention scheme for Kisan Credit Cards to ₹5 lakh announced in Union Budget- NSP NEWS

According to Union Finance Minister Nirmala Sitharaman, the Kisan Credit Cards would facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers. File photo
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Finance Minister Nirmala Sitharaman on Saturday (February 1, 2024) announced enhancing the limit for interest subvention scheme for Kisan Credit Cards from ₹3 lakh to ₹5 lakh.

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Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Ms. Sitharaman also said the government will enhance credit guarantee cover for MSMEs to improve their credit access.

Besides, the government will introduce customised credit cards with R₹ lakh limit for micro-enterprises.

She said the Kisan Credit Cards would facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers.

Ms. Sitharaman added that term loan of up to ₹20 crore will be provided to well-run export-oriented MSMEs.