The Union Budget for 2025 will be presented in Parliament on February 1, 2025.
Finance Minister Nirmala Sitharaman will outline the plans for the next few years of the Modi government.
This budget has a lot of expectations tied to it from millions of people across the country. One of the good news updates is related to the loan limit for Kisan Credit Cards (KCC).
Increase in Kisan Credit Card Loan Limit
A source from the Finance Ministry has shared that the loan limit under the Kisan Credit Card could soon be increased from Rs 3 lakh to Rs 5 lakh.
This move is being discussed for the upcoming budget. Currently, farmers can get loans of up to Rs 3 lakh through KCC, but there are plans to increase this limit to Rs 5 lakh.
This change is expected to benefit farmers, especially small and marginal farmers, and could boost rural demand, helping improve the economy of villages.
especially small and marginal farmers. By increasing the credit limit, the government hopes to boost rural demand and improve the economy of villages across the country.
What is Kisan Credit Card?
The Kisan Credit Card (KCC) is a government scheme aimed at providing farmers with timely and adequate loans for farming needs.
Farmers can easily apply for loans to meet various agricultural requirements. Some of the key benefits of the KCC include:
1) Loans for agricultural purposes at a low interest rate.
2) A 2% interest discount from the government.
3) A 3% additional interest discount for farmers who repay the loan on time.
4) Farmers can access crop insurance, accident insurance, health insurance, and asset insurance.
This scheme helps farmers get the financial support they need for farming at an affordable cost, benefiting the agricultural sector.
