Assam government approves 600 crore farm loan waiver – Times of India

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Assam government approves 600 crore farm loan waiver – Times of India

GUWAHATI: The BJP government in Assam has approved Rs 600 crore

farm loan waiver

which is said to have benefited about eight lakh farmers of the state, a move that comes in the backdrop of debt woes of farmers is a major issue in the run up to the

Lok Sabha elections

.

The decision was taken at a cabinet meeting held on Monday night. In the last few days after the newly formed Congress government in Madhya Pradesh and the state of Chhattisgarh announced it on Monday.

States which have previously waived farm loans are Karnataka, Maharashtra, Uttar Pradesh and Punjab.

According to the

Assam government

State Government spokesperson and Parliamentary Affairs Minister Chandra Mohan Patowary said, “We will write off 25 per cent loan of farmers up to a maximum of 25,000 of all farm loans.”

The waiver will be

Kisan Credit Card

(KCC) and from PSU banks, he said.

The government has also sanctioned an interest relief scheme which will enable around 19 lakh farmers to take loans from the next financial year, he said.

“The debt relief scheme for farmers will waive 25 percent of all loans taken till now. The benefit will be up to a maximum of Rs 25,000. This scheme will be funded by around 8 lakh farmers,” he said.

Due to these schemes there will be an additional burden of Rs 600 crore on the state exchequer. “For the next fiscal, we have done the budgetary provision for the schemes,” Patowary said.

The Cabinet also approved subsidy up to Rs 10,000 for incentivise farmers if they take loan from KCC

“There will be interest relief scheme of up to four per cent for farmers. There will be interest relief from the state government so that farmers get crop loan from zero interest from next financial year,” Patowary said adding that around 19 lakh farmers across the country. State is expected to take the benefit of it

The Congress, Left and other parties have been targeting the BJP-led central government over the issue of farm distress. The main opposition made farm loan waiver a major electoral issue in the recent assembly poll in which it won power from the BJP in Madhya Pradesh, Chhattisgarh and Rajasthan.

Congress president Rahul Gandhi on Monday said that he will not let Prime Minister Narendra Modi sleep till all farms loans have been waived, while Prime Minister Narendra Modi on Sunday, the country in the country’s agricultural crisis for the blame.

The newly formed Congress governments in Chhattisgarh and Madhya Pradesh had waived farm loans within hours of being sworn in.

In other decisions, the independence of fighters’ pension from Rs 20,000 to Rs 21,000.

The meeting also approved the formation of a Micro and Small Enterprises Facilitation Council for the growth of MSME sector in the state, the minister said.

The government also sanctioned Rs 32.72 crore loan from National Cooperative Development Corporation for revival of a jute mill at Nagaon, he added.

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