<h1>India's Interest Subvention Scheme Offers Farmers Reduced Rates for Timely Loan Repayment Since 2006-07.</h1> The Government of India has been implementing the Interest Subvention Scheme since 2006-07 to provide short-term crop loans up to Rs. 3 lakh to farmers at a 7% annual interest rate. Since 2009-10, the government has offered additional interest subvention to farmers who repay their loans on time, starting at 1% in 2009-10, increasing to 2% in 2010-11, and further to 3% in 2011-12. This information was disclosed by a government official in a written reply to a question in the Rajya Sabha.