<h1>Cabinet Approves Interest Subvention Scheme: Farmers Get Short-Term Crop Loans at 4% Interest for 2017-18.</h1> The Union Cabinet has approved the Interest Subvention Scheme for the 2017-18 fiscal year, allowing farmers to access short-term crop loans up to Rs. 3 lakh at a 4% interest rate per annum. The government allocated Rs. 20,339 crore for this initiative, which aims to enhance agricultural productivity by providing affordable credit. The scheme offers a 5% interest subvention for prompt repayment and 2% for delayed payments. Additional support includes a 2% subvention for loans related to post-harvest storage and natural calamity-affected farmers. This initiative helps farmers avoid high-interest loans from non-institutional lenders and complements various government agricultural programs.