Mukhyamantri Krishak Samriddhi Yojana Credit Terms and Benefits
Source:india ↗
Why It Matters
State-specific welfare schemes like the Mukhyamantri Krishak Samriddhi Yojana are frequent direct targets in UPPSC PCS Prelims questions regarding agricultural finance and state governance initiatives.
Summary
The article details the 'Mukhyamantri Krishak Samriddhi Yojana' launched by the Uttar Pradesh government, which provides farmers with financial assistance of up to Rs 6 lakh at a subsidized interest rate of 6 percent. It outlines the eligibility, benefits, and steps for farmers to apply for the scheme, aiming to improve agricultural credit and support rural development in the state.
Key Points
- The Uttar Pradesh government launched the Mukhyamantri Krishak Samriddhi Yojana to support farmers financially.
- Under the scheme, farmers can access financial assistance of up to Rs 6 lakh at a low interest rate of 6 percent.
- The scheme aims to reduce the financial burden on farmers, improve agricultural credit availability, and boost rural incomes in Uttar Pradesh.
- Step-by-step procedures are established for farmers to apply and avail benefits of the financial scheme.
Important Terms
Mukhyamantri Krishak Samriddhi Yojana
A flagship welfare initiative of the Uttar Pradesh government offering long-term agricultural loans up to Rs 6 lakh to small and marginal farmers at a subsidized interest rate of 6 percent.
UPSC context
UPPSC Paper V (State Specific Welfare Schemes, Agricultural Credit, and Rural Development in Uttar Pradesh). Tests knowledge of state-level farmer welfare programs.
Static Concepts Connected
What are the key institutional credit structures for agriculture in Uttar Pradesh?
- UP Cooperative Bank: Apex institution providing long-term agricultural credit and rural development finance through cooperative networks across Uttar Pradesh districts.
- NABARD Role: NABERT / NABARD acts as the apex regulatory and refinancing agency for regional rural banks and cooperative credit institutions in UP.
- Kisan Credit Card: Provides short-term crop loans at subsidized interest rates to farmers through commercial banks, cooperative banks, and RRBs.
Cross-Topic Patterns
Agricultural Subsidies and Cooperative Federalism
State-level interest subvention schemes like Mukhyamantri Krishak Samriddhi Yojana complement central initiatives like PM-KISAN and KCC, reflecting cooperative federalism in agricultural credit.
Rural Indebtedness and Farmers' Income Growth
Easy institutional credit access directly targets rural indebtedness, forming a key pillar of Uttar Pradesh's strategy to double farmers' income and boost rural demand.
UPPSC frequently asks specific scheme features: match the credit limit (Rs 6 lakh) and interest rate (6%) of Mukhyamantri Krishak Samriddhi Yojana.
Linked PYQs · 2
Linked PYQs · 2
- 2023UPPSC_PRELIMSGS1
Which of the following Scheme/Programme is not the Central Government Programme and it is Uttar Pradesh Government's Programme?
- 2022UPPSC_PRELIMSGS1
Consider the following statements about farm subsidies in India. 1. The input subsidies in India, such as on fertilizers fall under indirect farm subsidies. 2. Reduction in power and irrigation bills offered to farmers fall under direct farm subsidies. 3. The agricultural provisions of the World Trade Organization (WTO) though allow direct farm subsidies, prohibit indirect subsidies. 4. All subsidies provided by the governments in India fall under the indirect subsidies. Select the correct statements using the code given below.
