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<h1>Finance Minister Sets Rs. 8 Lakh Crore Agriculture Credit Target for 2014-15; Interest Subvention Scheme Continues with 4% Rates.</h1> The Finance Minister announced a target of Rs. 8 lakh crore for agriculture credit in 2014-15, surpassing the previous year's target of Rs. 7 lakh crore. The interest subvention scheme will continue, offering a 2 percent subvention and an additional 3 percent incentive for prompt payments, effectively reducing farm loan interest rates to 4 percent. So far, Rs. 23,924 crore has been allocated under this scheme.
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