The Interest Subvention Scheme has been running for a decade under which banks and cooperative institutions extend short term crop loans of up to 3 lakh to farmers at a concessional rate of 7 per cent. Timely repayment is incentivised by an additional subvention of 3 per cent.
Ladies and Gentlemen, Late last year, Helmut Schmidt, the publisher of Die Zeit and former German Chancellor, said that it’s not written in any Bible that the European Union will last until the end of the 21th century in its present form. It was an expression of concern, but he hoped that he would be wrong.