Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)
About This Scheme
The scheme "Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)" introduced by the Agriculture, Farmers Welfare and Cooperation Department, Gujarat, aims to provides interest subvention to sugar cooperative societies that availed loans for the payment of sugarcane arrears for the 2018-19 season. The central government covers 1 year of interest subsidy from the loan withdrawal date, after which the state government continues the subsidy for a maximum of 4 years at the lower of the actual interest or 7%.
Eligibility
- Sugar Co-operative Societies which have availed loan for payment of sugarcane arrears for the year 2018-19 for the respective sugarcane prices will be eligible for this scheme.
Benefits
Name of the Component Standard of Assistance Minimum Time Limit (in Years) for Reclaiming BenefitsInterest Subvention against long terms loan to the Co-operative sugar societies Interest actually paid on the bank loan amount taken by the Sugar Cooperative or 7% or whichever is less for a maximum period of 4 (four) years or interest concession on loan repayment (whichever is earlier).1 year of interest subvention to be paid by the Government of India from the date of withdrawal of this loan on the amount of bank loan taken by the State Sugar Co-operative Societies for affiliated purposes under the announced scheme for soft loan interest subvention on loans obtained for the payment of sugarcane arrears for the year 2018-19 for the respective sugarcane prices. Interest subvention paid by the State Government on interest actually payable or 7 percent or whichever is less for a maximum period of 4 (four) years or till the loan repayment (whichever is earlier)
How to Apply
Where This Comes From
This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.