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Mulayam for cut in agriculture loan interest

Chief Minister meets Union Agriculture Minister Sharad Pawar to plead the case

LUCKNOW: Uttar Pradesh Chief Minister Mulayam Singh Yadav on Thursday said the Centre should take firm steps to bring down the interest rate on the crop loan.

Mr. Yadav, who had a meeting with Union Agriculture Minister Sharad Pawar at his official residence here, said the interest on crop loan was higher in comparison to those on vehicles and houses, an official release said.

He also asked the Centre to draw a long term policy to ensure timely supply of phosphoric fertilizers.

Referring to the national agriculture insurance scheme, the Chief Minister said that the aid, which was earlier 50 per cent of the value of the crop destroyed, had been brought down to 10 per cent. He urged the Union Minister to raise this amount to 50 per cent again and suggested that all farmers should be covered under the season insurance scheme so that they could be compensated for the vagaries of the nature.

While apprising the Union Minister of the World Bank aided U.P. diversified agriculture support project, he said its first phase had been completed successfully in the State.

Mr. Pawar, while appreciating the agricultural programmes being run in the State, assured that the Centre would extend all possible cooperation for encouraging agriculture and agro-based projects, the release said. -- PTI

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Mulayam for cut in agriculture loan interest

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