UP: Yogi govt waives off farmers loans up to Rs. 1 lakh
- Author: Leroy Wright Apr 10, 2017,
Apr 10, 2017, 11:02
Delivering on BJP's poll promise to small and marginal farmers, the Yogi Adityanath government yesterday chose to waive their crop loans up to Rs 1 lakh, totalling a staggering Rs 36,359 crore.
An allocation of Rs 30,729 crore will be made by the state government for this goal, said health minister Sidharth Nath Singh, announcing the decision.
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The Yogi government said that ₹36,359 crore would be generated through the sale of government bonds.
The decision of waiving off loans will benefit 2 crore 15 lakh farmers of the state.
For this, a five-member GoM headed by another Deputy Chief Minister Dinesh Sharma has been constituted. According to the state government, the decision will cost the exchequer Rs 36,000 crore even as it will benefit 2.25 crore farmers.
Lucknow (U.P.), April 05 (ANI): Stressing on the need to advance medical facilities in Uttar Pradesh, Chief Minister Yogi Adityanath on Wednesday said at least five lakh more doctors are more required to provide affordable healthcare to the people of the state.
The new chief minister's task is cut out because crop loans during the last four years in Uttar Pradesh amount to a whopping ₹2.5 lakh crore.
Potato farmers had taken bank loan at Rs 1.5 lakh per hectare while for wheat farmers it was Rs 60,000 per hectare. "India needs an exit policy for unviable farmers and farming, not indefinite life support for them to stay in comatose conditions forever", R Jagannathan has written about farm loan waivers.
The key decision was taken at Adityanath's first Cabinet meeting held on Tuesday evening.
The first Cabinet meeting of UP CM Yogi Adityanath-led government was held here yesterday.
"We welcome the gesture and it will help many, but very few small farmers apply for crop loans, so it won't help all..."
While referring to an anonymous BJP leader of the state unit the media further reported that "The idea is to emulate the example of the Modi government and that is why lot of emphasis is being made on appointing the right set of officers". As poor, our loans should be waived off.
Loans from national banks form 86 per cent of the total farm loans which are estimated to be close to Rs.80,000 crore in Punjab.