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Interest Free Loan: Good News! Government will give interest free loan to these farmers, check details

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Interest Free Loan: The loan will be recovered from the sale proceeds of the auction during the 2023-24 crop season of the respective tobacco growers.

Interest Free Loan: The Center has decided to provide an interest-free loan of Rs 10,000 to tobacco growers who suffered losses due to the Michaung cyclonic rains in Andhra Pradesh. Due to this rain the crops of these tobacco producers were destroyed. The Commerce Ministry said, this is a one-time interest free loan only for the crop season 2023-24 in Andhra Pradesh.

Interest free loan of Rs 10,000

It said that the loan will be recovered from the sale proceeds of the auction during the 2023-24 crop season of the concerned tobacco growers. In view of the difficulties faced by FCV (flue-cured Virginia) tobacco growers in Andhra Pradesh, the Central Government has sanctioned an interest-free loan of Rs 10,000 from the Grower Welfare Fund of Tobacco Board to those grower members whose Crops have been damaged due to Cyclone Michong rains in Andhra Pradesh.

FCV tobacco is produced in Andhra Pradesh and Karnataka.

FCV tobacco is mainly produced in Andhra Pradesh and Karnataka. FCV tobacco crop grown in Eluru, East Godavari, Kakinada, Prakasam, Nellore, Bapatla, Palnadu and Guntur districts in Andhra Pradesh has been severely affected due to these cyclonic rains. The estimated area sown in the current crop season in Andhra Pradesh was 75,355 hectares. Out of this, 14,730 hectares or about 20 percent area has been affected due to this heavy rain.

The crop season of Andhra Pradesh continues. There are 42,915 FCV tobacco growers in the state. Its auction is going on in Karnataka, where there are 39,552 producers. Let us tell you that on 3-5 December last year, there was heavy rain in Andhra Pradesh due to the cyclone.

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