BIG MOVE: Modi government to announce 2.3 Lakh crores of benefit via direct transfer

Centre will likely announce direct benefit transfer (DBT) worth Rs 4,000 per acre per season plus interest-free crop loan up to Rs 1 lakh per farmer in an instant two-fold relief to the farmers, as per sources in the know told BusinessToday.In.

The initiatives will cost the Centre Rs 2 lakh crore towards DBT and another Rs 28,000-30,000 crore towards interest subvention, adding up to nearly Rs 2.3 lakh crore on an annual basis.

At least the Rs 70,000 fertiliser subsidy scheme will be subsumed into the scheme to make it possible. Some other smaller schemes may also get subsumed.