Assam government to repay 25 per cent of farmers' loans: CM Sarbananda Sonowal

GUWAHATI: Assam Chief Minister Sarbananda Sonowal said the state cabinet will provide 25 per cent of loan amount upto Rs 25,000.

In a cabinet meeting held on Monday at Guwahati, the state government approved four per cent interest waiver on Kisan Credit Card (KCC) loans (in addition to 3 per cent provided by the central government). This 7 per cent waiver will enable farmers to take loans at zero interest, Sonowal said.

For setting up a new jute mill in Nagaon, the Cabinet approved a loan of Rs 32.72 crore from the National Cooperative Development Corporation.

The Cabinet also approved the formation of a Ministry of Micro, Small and Medium Enterprises Facilitation Council to address issues of the entrepreneurs.