Fri. Apr 19th, 2024

Haryana Chief Minister Manohar Lal Khattar announced a lucrative package of Rs. 4750 crores for farmers on Monday. It has been dubbed as the stepping stone for upcoming assembly polls in the state.

Offering relief to farmers from their debt, the Chief Minister also waived off penalty and interest on crop loans. Around 10 lakh farmers are expected to receive benefits from Manohar Lal Khattar’s announcement. He also told that the unsold crop of farmers have been purchased by the state government.

Farmer’s loans under Primary Cooperative Agricultural Societies have also been waived off. It was reported that around 8.25 lakh farmers have defaulted on these loans over the past years.

Speaking to the reporters today, Manohar Lal Khattar said, “In PACS, 13 lakh farmers have taken loans out of which 8.25 lakh have become NPAs. They pay 7 percent interest in which state government pays 4 percent and 3 percent is paid by the central government through a scheme. In case of failure, a 5 percent penalty is also imposed. We are waiving 5 percent penalty of farmers.”

Package of Rs. 1800 crores waiving the penalty of loans under District Cooperative Central Banks (DCCB) has also been cleared off. Chief Minister apprised the media that over 85,000 farmers have taken loans from DCCB and out of it, 32,000 accounts have turned into Non-performing assets. He said that now farmers who have taken loans of amount Rs 5 lakhs will now have to pay just 2 percent interest instead 12-15 percent.

Khattar also made an announcement for farmers who have taken loans from the Land Mortgage Bank. He said now farmers will have to pay only 50 percent of the interest. The remaining 50 percent will be paid by the government. It is estimated that this scheme will cost Rs 450 crore to the state’s exchequer.

BJP State President for Haryana Shubash Barala applauded the newly-made announcements of Manohar Lal Khattar. In a tweeted message, he wrote, “The Chief Minister announced the waiver of penalty and interest amount on crop loans of Rs 4,750 crore. Ten lakh farmers of the state will be benefited. Indebted farmers of Primary cooperative, agricultural marketing, District Central Cooperative Banks and Haryana Land Reforms and Development Bank will benefit with this.”

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By Saurabh Parmar

Digital Journalist (Specializing in Indian affairs & Contemporary Political development)

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