Farm loans up to Rs 2 lakh taken from
coop, nationalised, regional banks to be waived
Bhopal: The Madhya Pradesh Cabinet on Saturday gave its nod to waive crop loans of 55 lakh farmers in the state while extending the eligibility cut-off date to December 12, 2018, from previous March 31, 2018. Under the scheme, farm loans up to Rs 2 lakh taken by farmers from nationalised, cooperative and regional banks, will be waived.
The crop loan waiver, a poll promise of the Congress, was announced hours after Kamal Nath took oath as chief minister in December last year. The previous cut-off date of March 31, 2018, announced by the government was criticised by the Opposition BJP, which said it would effectively mean many farmers staying out of the ambit of the loan waiver scheme. Addressing a press conference after the Cabinet meeting here on Saturday, minister for public relations PC Sharma and his ministerial colleague Jitu Patwari said the benefits of the farm loan waiver, would start reaching the farmers from February 22 this year.
Former chief minister Shivraj Singh Chouhan has termed the extension of the farm loan waiver cut-off date as a victory of the BJP and farmers in the state.
Rs 35,000- Rs 50,000 crore: Cost to exchequer
- Patwari said the cost of entire farm loan waiver scheme to the state exchequer is yet to be calculated.
- ‘As per rough estimates, this scheme would cost somewhere between Rs35,000- Rs50,000-crore,’ Patwari said.
Loan defaulters also included
- Patwari said farm loan defaulters from April 1, 2007, are included under the ambit of the scheme.
- Patwari and Sharma said the loan waiver would benefit about 55 lakh eligible farmers including about 35 lakh small and marginal agriculturists.
- ‘Farm loans taken from cooperative, regional and nationalised banks are included under the purview of this scheme,’ Patwari said.
‘Farmers are a vote bank for Congress’
Farmers are a vote bank for the Congress, while we consider them ‘annadata’ (provider of food). This is the difference between the Congress and the BJP,’ -Narendra Modi