In the annual budget 2019, the FM mentioned that the farmers would get an interest subvention of 2%…
In the annual budget 2019, the FM mentioned that the farmers would get an interest subvention of 2%.
Could you please explain what interest subvention means?
Chiranjibi Feb. 01, 2019
In the budget of 2019, two per cent interest subvention is provided to farmers pursuing animal husbandry and fisheries.
Here, interest subvention is nothing but a subsidy or a rebate offered to the borrower by the government.
Such subsidies are usually offered to priority sector lending which include agriculture, housing, education and similar for the welfare of end users like farmers and students.
