News Update

DGFT's COVID-19 Helpdesk resolving Trade related IssuesKerala declines to supply oxygen, needs more oxygen, says CMDGFT COVID-19 Helpdesk helping remove irritants faced by trade & IndustrySC server goes down; to hear plea against Centre’s vaccine policy on ThursdayCOVID-19: Eli Lilly signs deals to boost Baricitinib productionCOVID-19: India fastest globally to administer 17 cr vaccine dosesInfosys Foundation donates Rs 100 Cr to combat COVID-19I-T - Assessment order cannot be contested directly through writ petition, where no stay petition is filed against such order: HCTelecom sector - Decrypting availability of SEIS benefitCX - Bypassing appellate remedy is not preferable in view of the fact that in the event of any finding in a writ proceedings, the same may cause prejudice to either of the parties: HCReading down s.16(2)(c) of the CGST Act?GST - Considering the magnitude and the scale of the alleged fraud involving public money and the critical stage when investigation to get hold of the mastermind kingpin as well as the modus operandi is underway, no case for grant of bail is made out: HCCOVID-19: 4,200 tonne LMO delivered by Oxygen ExpressVAT - Assessment order passed without granting personal hearing to the assessee merits being set aside in favor of fresh hearing being granted to the assessee : HCTata Memorial distributes 3,800 concentrators to cancer grid hospitalsCX - It is trite law, that extended limitation is not invocable when adjudicating authorities are having divergent views: CESTATCOVID-19: Air Force cell coordinates relief distributionCOVID 2nd wave - Extension of I-T due dates - No coercive measures against any assessee - Any assessee to be given 3 weeks' prior notice to approach relevant authority or court: HCExpenses incurred towards keeping the business primed up, cannot be capitalized: HCWhen assessment is unabated or concluded on date of search, no addition can be made in absence of incriminating material found as a result of search: ITATIndia receives 1.5 lakh doses of Sputnik V vaccine: MoSCOVID-19 - A sharp dip in daily cases in India - 3.66 lakh with 3800 deaths in 24 hours + Turkey joins 50 lakhs club as 5th country + Decline in daily addition to global tally - 6.42 lakh cases with 9.9K deaths
 
KCC Scheme - Sanctions with credit limit of Rs 1.35 lakh crore achieved

By TIOL News Service

NEW DELHI, OCT 20, 2020: AS part of the Atmanirbhar Bharat Package, the Government has announced to cover 2.5 crore farmers under the Kisan Credit Card (KCC) scheme with a credit boost of Rs. 2 lakh crore through a special saturation drive. As a result of concerted and sustained efforts by the banks and other stakeholders in the direction of providing access to concessional credit by the farmers, including Fishermen and Dairy farmers, a major milestone target of covering more than 1.5 crore farmers under KCC, with sanctioned credit limit of Rs.1.35 lakh crore has been achieved.

The KCC Scheme was introduced in the year 1998 with the objectives of providing adequate and timely credit to the farmers for their agricultural operation. The Government of India provides interest subvention of 2% and Prompt Repayment Incentive of 3% to the farmers, thus making the credit available at a very subsidized rate of 4% per annum. Government has taken a major farmer friendly steps by extending the benefits of KCC with interest subvention in 2019 to Animal Husbandry including Dairy and Fisheries farmers for their working capital requirement and raising the existing limit of collateral free agriculture loan from Rs. 1 lakh to Rs.1.60 lakh.

While ensuring convenient and cost-effective credit delivery to farmers, the ongoing campaign will also be instrumental in driving the rural economy and further accelerating agricultural production and allied activities, besides enhancing the income level of farmers. This will also go a long way in fulfilling the objective of food security for our country.


POST YOUR COMMENTS