Around 2.5 crore farmers are expected to benefit from this move, the finance minister said.
Finance Minister Nirmala Sitharaman announced a Rs 2 lakh crore concessional credit boost for farmers under the Kisan Credit Card scheme.
This is aimed at providing farmers access to institutional credit at concessional rates. Around 2.5 crore farmers are expected to benefit from this move, the finance minister said.
She added that fishermen and animal husbandry farmers will also be included under this scheme.
A Rs 30,000 crore additional emergency working capital funding will also be provided to farmers via the National Bank for Agriculture and Rural Development (NABARD).
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
This, the finance minister said, will be over and above the Rs 90,000 crore support to farmers provided by NABARD through the normal refinance route during a year.The move is expected to benefit 30 million farmers, especially the small and marginal ones, FM Sitharaman said.