In a move aimed at promoting post-harvest management, processing, and branding of bajra, the Haryana government has notified an interest subvention scheme for the millet’s processing units. The aim is to strengthen the bajra (pearl millet) market and improve the livelihood of farmers by providing financial assistance to processing units.
A spokesperson said that under this scheme, support will be extended to bajra-processing units by providing interest subvention on term loans availed by the units. The units will receive assistance in the form of an interest subvention at 7% per annum or the actual rate of interest paid, whichever is less. The maximum assistance provided will be ₹25 lakh per financial year on the term loan availed by MSMEs for bajra processing.
The scheme covers various enterprises, as per the Micro, Small and Medium Enterprises Development Act, 2006.
All MSME units involved in bajra processing and which have availed term loan for processing from financial institutions will be eligible under the scheme.
The letter of approval will be issued within 40 working days from the date of receipt of the application. Upon approval, the letter of sanction will be issued within 10 working days. Following that, the disbursement of the approved assistance will be completed within 14 days.