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UP Elections 2027: Government to distribute Rs 3.03 lakh crore to farmers
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News18•16-10-2026, 13:19
UP Elections 2027: Government to distribute Rs 3.03 lakh crore to farmers
- •The Modi-Yogi double-engine government is set to distribute Rs 3.03 lakh crore in loans to farmers before the 2027 Uttar Pradesh Assembly elections.
- •The loan funds can be used for new farming methods, starting agricultural businesses, purchasing equipment, cattle, or venturing into fish and poultry farming.
- •The Ministry of Finance increased the agricultural loan target for UP by Rs 25,000 crore from the initial Rs 2.78 lakh crore for the 2026-27 financial year.
- •The initiative aims to economically empower farmers sustainably rather than offering short-term direct cash schemes ahead of the polls.
- •Banks face a major challenge in meeting this target as it is 50 percent higher than last year's actual loan distribution, given a historical 9 percent growth rate.
Key Questions Answered
In the current financial year 2026-27, banks in Uttar Pradesh will distribute a loan of Rs 3.03 lakh crore in agriculture and allied sectors to support farmers before the upcoming assembly elections.
The Ministry of Finance increased the target from Rs 2.78 lakh crore to Rs 3.03 lakh crore in October to ensure farmers are prosperous when they go to the upcoming assembly elections, providing them loans instead of direct cash to foster long-term self-reliance.
Farmers can use the loan money to purchase new agricultural equipment or cattle, as well as finance new types of farming, businesses, fish farming, and poultry farming alongside traditional agriculture.
