New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved an interest subvention of 1.5 per cent per annum on short-term agriculture loans up to Rs 3 lakh. interest subvention of 1.5 per cent will be provided to lending institutions for the financial year 2022-23 to 2024-25 for lending short term agri-loans up to Rs 3 lakh to the farmers, according to an official statement released after the cabinet meeting. This increase in interest Subvention support requires additional budgetary provisions of Rs 34,856 crore for the period of 2022-23 to 2024-25 under the scheme.