Karnataka CM seeks more agricultural loans, meets FM for farmers' interests

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Karnataka CM seeks more agricultural loans, meets FM for farmers' interests - Business Standard

Quick Summary:

In the meeting held at North block, the chief minister highlighted a sharp decline in the proposed loan allocation by NABARD, which has sanctioned only Rs 2,340 crore against the state's applied limit of Rs 9,162 crore, a 58 per cent reduction compared to the previous year's Rs 5,600 crore.

Karnataka Chief Minister Siddaramaiah met Union Finance Minister Nirmala Sitharaman on Thursday, urging her to intervene and increase the Short Term Agricultural Loans (SAO) limit for the fiscal 2024-25.

Presenting a detailed representation, Siddaramaiah emphasised that Karnataka aims to disburse short-term agricultural loans worth Rs 25,000 crore to 35 lakh farmers in 2024-25.