The move is likely to benefit 2.5 million farmers
With Gujarat polls around the corner and the Congress giving neck-to-neck competition to Bharatiya Janata Party (BJP), Chief Minister Vijay Rupani, on Monday, announced farm loans of up to Rs 3 lakh at zero per cent interest.
The move, aimed at wooing voters of rural Gujarat, is likely to benefit 2.5 million farmers.
Addressing the BJP workers at 'Gujarat Gaurav Sammelan', Rupani said that the seven per cent interest on loans will be borne by the state and Centre, the English daily added.
The state’s exchequer will have to deal with an additional burden of Rs 700 crore per annum.(economy news)
As reported earlier, Vijay Rupani also said the government would be setting up 16 new Gujarat Industrial Development Corporation (GIDC) industrial estates that would generate employment for 100,000.
Gujarat government had also announced a cut in value-added tax (VAT) of four per cent on retail petrol and diesel prices.
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