In Madhya Pradesh, agricultural short term loans to farmers will be provided at one percent interest rate from this financial year. AIR Bhopal correspondent reports that an order was issued in this effect by the state government yesterday. AIR Correspondent reports that Short term loans at the interest of one percent would be provided to those farmers who have been repaying their farm loans regularly on time. The loan would be provided through cooperative banks. State finance minister had made an announcement in this regard during his budget speech this year. The interest rate on the short term farm loans in the state was three percent till now. According to official sources, Madhya Pradesh is the first state in the country to provide farm loan at such a nominal interest.