Further rate cut on farm loans likely

In an apparent bid to woo farmers ahead of the Lok Sabha polls, the Centre on Thursday said it is seriously considering to further cut interest rates on farm loans as part of a slew of agri-friendly measures.

"Interest rate on crop-loans has already been cut to nine per cent and I favour a further cut in farm loans. The issue is under serious consideration of the government," Union Agriculture Minister Rajnath Singh said in New Delhi on Thursday.

After a Centre-state conference, he said consensus is also being build up for agri-land reforms, contract farming, land-share companies and amendment in the agri-marketing acts of the states.