Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area)
Interest Subvention Scheme for Cooperative Sugar Societies in Gujarat
The Gujarat government’s Agriculture, Farmers Welfare and Cooperation Department has launched the “Interest Subvention against Long Term Loan to the Co-operative Sugar Societies (Normal Area) (Tribal Area).” This initiative is designed to assist sugar cooperative societies in managing their financial obligations related to sugarcane arrears from the 2018-19 season by providing interest subsidies on long-term loans.
Overview of the Scheme
The primary objective of this scheme is to extend financial support to sugar cooperative societies that have obtained loans to clear their sugarcane dues for the 2018-19 season. The scheme stipulates that the central government will cover one year of interest on these loans from the date of withdrawal. Subsequently, the state government will continue to provide interest subvention for up to four years, at a rate equivalent to the lower of the actual interest or 7%.
Key Benefits of the Scheme
| Name of the Component | Standard of Assistance | Minimum Time Limit (in Years) for Reclaiming Benefits |
|---|---|---|
| Interest Subvention against Long Term Loan to the Co-operative Sugar Societies | Interest paid on the bank loan amount taken by the Sugar Cooperative or 7%, whichever is lower, for a maximum of four years. One year of interest subvention will be provided by the Government of India from the loan withdrawal date. | 4 years or until loan repayment, whichever is earlier. |
Eligibility Criteria
- Only sugar cooperative societies that have taken loans specifically for settling sugarcane arrears from the 2018-19 season are eligible to apply.
Application Process
Eligible sugar cooperative societies must apply offline by submitting their proposal through the District Registrar of their respective districts. The proposal must then be directed to the Director of Sugar, Gujarat State, located in Gandhinagar.
Contact Information
For further assistance, here are the contact details for the relevant authorities:
District Registrar
For the office address and contact information of the District Registrar, click here.
Director of Sugar
Address: Dr. Jivraj Mehta Bhavan, Block No. 8, 2nd Floor, Gandhinagar
Phone: 232-53437
Email: directorsugar@gmail.com
Official Source
For more details on this scheme, please visit myScheme.gov.in.
Conclusion
This scheme is a significant step towards alleviating the financial burdens faced by sugar cooperative societies in Gujarat. By providing substantial interest subvention, it aims to ensure the timely payment of sugarcane dues, thereby supporting the agricultural economy and enhancing the livelihoods of farmers. Eligible societies are encouraged to take advantage of this opportunity to ease their financial constraints.
Eligibility Criteria
Sugar Co-operative Societies which have availed loan for payment of sugarcane arrears for the year 2018-19 for the respective sugarcane prices will be eligible for this scheme.
Benefits
Name of the Component Standard of Assistance Minimum Time Limit (in Years) for Reclaiming Benefits
Interest Subvention against long terms loan to the Co-operative sugar societies Interest actually paid on the bank loan amount taken by the Sugar Cooperative or 7% or whichever is less for a maximum period of 4 (four) years or interest concession on loan repayment (whichever is earlier).1 year of interest subvention to be paid by the Government of India from the date of withdrawal of this loan on the amount of bank loan taken by the State Sugar Co-operative Societies for affiliated purposes under the announced scheme for soft loan interest subvention on loans obtained for the payment of sugarcane arrears for the year 2018-19 for the respective sugarcane prices. Interest subvention paid by the State Government on interest actually payable or 7 percent or whichever is less for a maximum period of 4 (four) years or till the loan repayment (whichever is earlier)
Application Process
Apply OfflineThe concerned sugar co-operative societies who are eligible, should send the proposal through the District Registrar of the concerned district to the Director of Sugar, Gujarat State, Gandhinagar.
Office Address and Contact Details of District Registrar: Click here
.
Office Address and Contact Details of Director Of Sugar:
Director of sugar
Address: Dr.Jivraj Mehta bhavan, Block No.8 ,2nd floor, Gandhinagar
Phone: 232-53437
Email Us: directorsugar[at]gmail[dot]com
References & Official Links
Scheme Details
| Full Name | Interest Subvention against long terms loan to the Co-operative sugar societies (Normal Area) (Tribal Area) |
| Short Title | ISALTLCSS |
| Level | State |
| Scheme For | Infra |
| Ministry | Ministry Of Agriculture and Farmers Welfare |
| Categories | Agriculture,Rural & Environment |
| States | Gujarat |
| Gender | All |
| Area | Both |
| Source | www.myscheme.gov.in ↗ |
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Deepika Raikwar is an Education Analyst and scholarship researcher who focuses on public welfare and merit-based scholarships. She simplifies complex eligibility rules, deadlines, and application processes to help common people access reliable funding opportunities worldwide.
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