Govt plans to offer cheaper loans to farmer

The government is committed to make bank loans cheaper for farmers by reducing the interest rate to 5% from the present 7%, minister of state for food and public distribution, Akhilesh Prasad Singh was quoted as saying in a statement issued by industry chamber, Federation of Indian Chambers of Commerce and Industry (FICCI).

Speaking at a seminar on warehousing, Singh said that timely accreditation of the vast warehousing network, development of quality manpower and creation of a scientific storage structure are key to a successful implementation of the Warehousing (Development & Regulation) Act.