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interest-free credit: The Center has decided to provide an interest-free loan of Rs 10,000 to tobacco growers who suffered losses due to the Michong cyclonic rains in Andhra Pradesh. Due to this rain the crops of these tobacco growers were destroyed. This is a one-time interest-free loan only for the crop season 2023-24 in Andhra Pradesh, the Commerce Ministry said.
Interest free loan of Rs 10,000
It said the loan will be recovered from the sale proceeds of the auction during the 2023-24 crop season of the tobacco growers concerned. In view of the difficulties faced by FCV (Flue-Cure Virginia) tobacco growers in Andhra Pradesh, the Central Government has sanctioned an interest-free loan of Rs 10,000 from the Growers Welfare Fund of the Tobacco Board to grower members whose crops have been damaged. Rain in Andhra Pradesh due to Cyclone Michong.
FCV tobacco is produced in Andhra Pradesh and Karnataka.
FCV
Tobacco is mainly produced in Andhra Pradesh and Karnataka. Due to these cyclonic rains, FCV tobacco crop grown in Eluru, East Godavari, Kakinada, Prakasam, Nellore, Bapatla, Palanadu and Guntur districts of Andhra Pradesh has been seriously affected. The estimated area sown in the current crop season in Andhra Pradesh was 75,355 hectares. Out of this, 14,730 hectares i.e. about 20 percent area has been affected due to this heavy rain.
The harvest season continues in Andhra Pradesh. There are 42,915 FCV tobacco growers in the state. Its auction is going on in Karnataka, where there are 39,552 producers. Let us tell you that on 3-5 December last year, there was heavy rain in Andhra Pradesh due to the cyclone.