Mukhyamantri Krishak Samriddhi Yojana – Along with the central government, state governments are also implementing new schemes aimed at increasing farmers’ incomes and making farming easier. In this direction, the state government is about to launch a new scheme in the interest of farmers to increase their income from farming and to relieve them from the burden of debt. Under this scheme, farmers in the state will be provided with cheap agricultural loans. The government believes that through this new scheme, farmers will be able to invest more capital in agriculture and enhance both their productivity and income.
The Chief Minister of the state has issued directives to launch the “Mukhyamantri Krishak Samriddhi Yojana” (Chief Minister Farmer Prosperity Scheme). This scheme is especially being designed to economically empower small and marginal farmers.
What Instructions Did CM Yogi Give to Officials?
On May 19, Uttar Pradesh Chief Minister Yogi Adityanath instructed in a review meeting of the Cooperation Department to quickly prepare the proposal for the scheme and ensure the participation of NABARD and cooperative banks. For effective implementation, he directed to enhance the loan distribution capacity of cooperative banks, modernize their branches, and provide financial assistance so that farmers can easily access loans. Mukhyamantri Krishak Samriddhi Yojana
He also instructed that cooperative institutions must ensure access to technology, loans, and marketing for farmers so that they can become self-reliant. Priority will be given to farmer prosperity through cooperation.
₹11,516 Crore Crop Loans Distributed Since 2017
In the meeting, it was reported that the loan distribution of Uttar Pradesh Cooperative Bank increased from ₹9,190 crore in 2017 to ₹23,061 crore by 2025. During the same period, the business of district cooperative banks reached ₹41,234 crore with a net profit of ₹162 crore. Over the past eight years, crop loans worth ₹11,516 crore and long-term loans worth ₹393 crore have been distributed.
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100 New Warehouses to Be Built by 2025–26
The government is emphasizing warehouse construction under the Agriculture Infrastructure Fund (AIF) and the Rashtriya Krishi Vikas Yojana (RKVY). So far, 1.17 lakh metric tons of storage capacity has been created. By 2025–26, 100 new warehouses are proposed. Additionally, under the country’s largest grain storage scheme, warehouses with a capacity of 500–100 metric tons are proposed in 16 districts.
Recruitments Soon in Cooperative Institutions
The Chief Minister instructed to expedite the recruitment process for vacant posts in cooperative banks and institutions through IBPS, which will improve operational efficiency and service quality. He also called for changes in PCF’s operations and quick payments to rice millers.
Strong Cooperative Policy for Farmers
The CM clearly stated that cooperation is the key to farmers’ prosperity. A policy will be prepared to involve the private sector in storage and marketing, and cooperative institutions will be made strong, transparent, and farmer-centric. The “Mukhyamantri Krishak Samriddhi Yojana” is a strong effort by the UP government to relieve farmers from debt, increase production, and provide economic stability. This scheme could be a major relief and open new opportunities for farmers.
What Is the Mukhyamantri Krishak Samriddhi Yojana and How Will It Help Farmers?
According to media reports, the Mukhyamantri Krishak Samriddhi Yojana will be implemented through the Cooperative Village Development Bank. The bank will provide long-term loans to farmers at low interest rates. The state government will subsidize the interest to make these loans even cheaper. These long-term loans will be provided for five years or more.
It is reported that the Cooperation Department has already prepared the proposal for the scheme. The Cooperative Village Development Bank gets loans from NABARD at around 8% interest, and lends to farmers at 9% interest. With the government’s interest subsidy, it is expected that farmers will be able to get loans under this scheme at 3% to 5% interest. Mukhyamantri Krishak Samriddhi Yojana