Assam Farmer’s Credit Subsidy Scheme (AFCSS) On Crop Loan

Assam Farmer’s Credit Subsidy Scheme (AFCSS) 2019-20 Crop Loans [Application Form, Eligibility, Documents]

For the betterment of the agricultural workers, and their financial support, the government of Assam has announced a new Credit Linked Subsidy Scheme. This scheme is promoted as the Assam Farmer’s Credit Subsidy Scheme or AFCSS. Under this scheme, eligible farmers will get as much as Rs. 25,000 payment, if case they meet the necessary credit- related criteria. To know more about the eligibility, application form and procedure, read the article carefully. Assam authority is hopeful that successful implementation of this particular project will pave the path for the overall development and empowerment of the agricultural labors.

Assam Farmer’s Credit Subsidy Scheme

Name of the schemeFarmer’s Credit Subsidy Scheme or AFCSS
Launched inAssam
Launched bySarbanandaSonowal
Date of launchJanuary 2019
Implementation dateSoon
Target beneficiariesPoor farmers in the state

Key features of the scheme

  1. Financial assistance for poor farmers – Many farmers cannot tolerate the immense pressure of the repaying the agricultural credits. With the implementation of this scheme, farmers will get some respite by some reimbursement in their accounts, from the government.
  2. Money for farmers – The poor agricultural labors will be able to attain a subsidy that is either 25% of the total credit amount or Rs. 25,000, whichever less.
  3. Limit for credit – Farmers will not have to worry about the payment of any interest if the loan amount is within Rs. 2 lakhs.
  4. Date of credit issuance – It has been mentioned that only those applicants will attain the financial benefits who had acquired the credit between 1st April 2018 and 31st March 2019.
  5. Additional cash incentive – Rs. 10000 will also be offered to the agricultural workers on an one-time-basis. This will only be given if the account is standard in nature.
  6. Specified banks – The scheme draft highlights that only those farmers will be able to attain the benefits of this project, who have acquired the agricultural loan from specified commercial banks, Assam Cooperative Apex Bankand Regional Rural Banks.
  7. Estimated growth in GDP – All the agricultural projects, initiated by the Assam government will not only bring a smile on the face of the poor farmers, but will increase their financial prosperity. The state government estimates that these schemes will increase the GDP of Assam by as much as 19%
  8. DBT in account – It is mandatory for all farmers to have active bank accounts. The Assam government will transfer the subsidy payment in the respective account of the farmer.

Eligibility and documents necessary for application

  1. Residential requirement – As the Assam government will implement this scheme, and pay the required amount, applicants with legal residential documents will be allowed to attain the benefits.
  2. Professional sector – Only agricultural labors will be allowed to attain the benefits of this scheme. They will have to submit the photocopies of their kisam cards, which are issued by the state agriculture department.
  3. Personal ID documents – All agricultural labors will have to attach their voter card, Aadhar and PAN card photocopies along with the enrollment form.
  4. Credit issuance documents – Applicants, will also have to submit the documents, which were issued by the respective bank, from where the farmer had taken the agricultural loan.

How to get application form and apply?

The scheme has been announced recently, and not much is known about the application process of the project. The scheme is targated towards the betterment of poor and needy farmers. Thus, it is safe to assume that all registrations will be done via the offline mode. Applicants can get the forms from the Gram Panchayat office or agricultural department in the respective block. Once the authority comes out with the details, you will get it on this site.

When farmers get money in their account under the subsidy scheme, they will be able to utilize it for better yield related activities. Purchasing high quality seeds and fertilizers will ensure that they get better produce, which in turn increases their overall income. It will make Modi’s dream of doubling the income of farmers by the end of 2022.

Other Links 

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  3. All About Personal Loans
  4. Mudra Loan Yojana 2019

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