Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has decided to provide up to 65 per cent subsidy to paddy farmers for the loss they incurred from the recent floods.
A meeting of the Council of Ministers held on Thursday (October 28) took a decision to dole out subsidy to the farmers by classifying them into small, medium and large groups based on the area of farming, according to the state-owned national news agency RSS.
Government Spokesperson and Minister for Communications and Information Technology Gyanendra Bahadur Karki informed that the farmers would be given subsidy up to 65 per cent of the total loss for the paddy farming done in 10 kattha (0.84 acre) or equal area of land plot.
Likewise, farmers involved in paddy farming in 10 kathha (0.84 acre) to three bigha (5.02 acre) of land would be provided maximum of 30 per cent in subsidy while the farmers involved in farming in more than three bigha (5.02 acre) of plot would be given a maximum of 20 per cent of the loss.
Minister Karki said that the government announcement on subsidy would be given by fixing the minimum support price of the paddy. For this, a task force comprising secretary at the Office of the Prime Minister would submit the required procedure within five days for approval.
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