Farmers Current Affairs - 2019
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While the entire Country will vote in EVMs in the Lok Sabha Polls 2019, the people of the Nizamabad in Telangana will vote through Ballot Papers.
Why Ballot Papers in Nizamabad?
For the Lok Sabha Polls 2019 in the Nizamabad Lok Sabha seat, there are 185 candidates in contention. As one EVM can accommodate only 16 candidates and a maximum of 4 EVMs can be used in one polling booth, the Election Commission is forced to switch back to the age-old practice of ballot papers.
Of the 185 candidates in contention 178 are farmers who cultivate Turmeric and Jowar. They are contesting polls to highlight their demand for the remunerative price for their crops.
The Nizamabad Lok Sabha Constituency had received around 200 nominations of these some were rejected and 189 candidates remained in contention after the scrutiny of nomination papers. Of these 4 candidates withdrew their nomination papers.
K Kavitha who is also the daughter of Telangana Chief Minister, Chandrashekhar Rao is the sitting MP from the Nizamabad seat.
The Reserve Bank of India (RBI) has notified the norms for banks with regards to two per cent interest subvention or subsidy for short-term crop loans during 2018-19 and 2019-20 under the interest subvention scheme approved by the central government.
Interest subvention scheme
Under the interest subvention scheme, the central government provides short term crop loan up to one year for a loan up to Rs. 3 lakhs. The Central government provides an interest subvention of 2 per cent for these short term crop loans.
The RBI circular notes that interest subvention of 2 per cent will be calculated on the crop loan amount from the date of its disbursement/drawal up to the date of actual repayment of the crop loan by the farmer or up to the due date of the loan fixed by the banks whichever is earlier, subject to a maximum period of one year.
For Farmers repaying the loan promptly an additional 2 per cent interest subvention is provided. This brings down the effective rate of short-term crop loans works out to be 4 per cent per annum.