Odisha launches Balaram scheme provide Rs 1,040 crore credit to 7 lakh landless farmers over two years

Odisha launches Balaram scheme provide Rs 1,040 crore credit to 7 lakh landless farmers over two years

• The Odisha government, under Chief Minister Naveen Patnaik, has launched a scheme named ‘Balaram’ to provide agricultural credit to landless farmers who are facing hardships due to the coronavirus outbreak.
• This is a first-of-its type scheme in India, targeting landless farmers of the country.
• The scheme will provide agriculture credit worth Rs 1,040 crore to landless farmers of the state in the next two years.
• Around 7 lakh landless cultivators will be benefited from the programme.
• The loan facility will be provided through joint liability groups in every district, which will be formed based on their collateral.
• For the first year, each group on an average will get a maximum Rs 1.60 lakh loan.
• The scheme has been designed in collaboration with the National Bank for Agriculture and Rural Development (NABARD)
• The state-run organisations namely ‘Institute on Management of Agricultural Extension’ and the Agricultural Technology Management Agency (ATMA) will be the nodal agencies at the state and district levels respectively for implementation of the scheme.