Madhya Pradesh Farmer Short Term Loan Interest Rate in 2014

In 2014, the Madhya Pradesh government had a significant scheme aimed at supporting farmers by providing access to affordable credit. This was primarily done through state-owned cooperative banks, which served as the channel for disbursing these funds.

The question specifically asks about the interest rate on short term loans provided to farmers under this initiative during 2014. The government implemented a special rate to ease the financial burden on farmers, especially concerning agricultural inputs and other short-term needs.

The rate at which the Madhya Pradesh government facilitated these short term loans through cooperative banks to farmers in 2014 was 0%. This meant that farmers were essentially getting interest-free credit for their short-term requirements, which was a major support measure.

This 0% interest rate was a policy decision by the Madhya Pradesh government to promote agriculture and provide relief to farmers, ensuring they could access necessary funds without the added cost of interest, at least for the short term duration covered by the scheme.