FM announces enhancing limit for interest subvention scheme for Kisan Credit Cards to Rs 5 lakh

Finance Minister Nirmala Sitharaman on Saturday announced enhancing the limit for interest subvention scheme for Kisan Credit Cards from Rs 3 lakh to Rs 5 lakh.

Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Sitharaman also said the government will enhance credit guarantee cover for MSMEs to improve their credit access.

Besides, the government will introduce customised credit cards with Rs 5 lakh limit for micro-enterprises.

She said the Kisan Credit Cards would facilitate short-term loans for 7.7 crore farmers, fishermen, and dairy farmers.

She added that term loan of up to Rs 20 crore will be provided to well-run export-oriented MSMEs.