Hyderabad, March21
The Telangana State Cooperative Apex Bank (TSCAB) has finalized the crop loan limits for 123 different crops grown in the state for the upcoming 2023-=24 farming season. The credit limit has been determined based on the cost of cultivation, productivity, and irrigation. The Scale of Finance report has been sent to the State Level Bankers’ Association (SLBC), and the suggested crop loans have been finalized for farmers.
The loan limit has been increased for several crops, including paddy, cotton, maize, soybean, chilli, and horticulture crops, which are mainly cultivated in the state. For cotton and paddy, which are the most cultivated crops in the state, the loan limit has been finalized at Rs. 45,000 per acre. This is an increase from last year’s limit of Rs. 40,000. The loan limit for chilli crops has been increased from Rs. 75,000 to Rs. 80,000. The loan limit for other crops such as millet, organically grown minumu, chickpea, soybean, and rice has also been raised.
TSCAB has also taken special measures to promote oil palm cultivation, with the loan limit for oil palm crops from Rs. 40,000 to Rs. 42,000 per acre. The scale of finance has also been finalized for the cultivation of honey plants, silk, lac, and tasar culture, with loans ranging from Rs. 20,000 to Rs. 75,000.
TSCAB has also finalized the loan limit for livestock rearing, including sheep, goat, pig, and dairy management. The loan limit for sheep (20+1) rearing has been increased from Rs. 21000–23000, for goats Rs 22000–Rs25000.The loan limit for pig rearing has been increased from Rs. 43,000 to Rs. 58,000 for 3+1 pig rearing.
Overall, TSCAB’s efforts to finalize crop loans for Telangana farmers for the upcoming farming season will provide significant financial support to the state’s agricultural sector.
