Why in News?
Andhra Pradesh government has introduced the Pashu Kisan Credit Card (PKCC) Scheme to support livestock farmers. This scheme provides easy and affordable credit to improve the animal husbandry sector and reduce financial stress on farmers.
PKCC Scheme
- The PKCC Scheme aims to provide institutional credit to farmers engaged in livestock activities.
Key Features of the Scheme
Loan Facilities
- Up to ₹1.60 lakh loan without collateral
- Interest rate: 7% per annum
- Loans up to ₹3 lakh available as per banking norms
Interest Subvention Benefit
- Farmers who repay within 1 year get a 3% interest subsidy
- Effective interest rate reduces to 4%
Eligibility Criteria
- Open to:
- Land-owning farmers
- Tenant farmers
- Members of Self-Help Groups (SHGs)
Coverage
- All livestock farmers across Andhra Pradesh can apply
Significance of the Scheme
- Reduces dependency on private moneylenders
- Ensures low-interest institutional credit
- Encourages scientific and sustainable livestock practices
- Strengthens the rural economy and dairy sector
- Promotes financial inclusion in agriculture
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