UP Farmers Get 6% Long-Term Loans Under Krishak Samriddhi Yojana

Uttar Pradesh is offering some farmers long-term loans at a lower interest rate.

The new rate is 6% under the Chief Minister Krishak Samriddhi Yojana.

Farmers can use the money to buy tractors, machines, or pay for other major farm needs.

Earlier, these loans could carry interest rates as high as 18%.

Lower interest means farmers may have to pay less extra money on their loans.

For example, interest on a ₹10 lakh loan could be ₹60,000 for one year at 6%.

The government says the program will especially help small and marginal farmers.

It hopes to provide this loan facility to five lakh farmers over the next few years.