The state government took this step to save the farmers from becoming defaulters. Farmers are provided crop loans by the government at the beginning of every Rabi and Kharif season.
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This loan is given to the farmers twice a year. In Madhya Pradesh also, the date of payment of the old loan given to farmers for the Kharif crop has been extended.
Now farmers can repay their old loans till April 15. Let us inform you that earlier the date of repayment of this loan was till 31 March 2022.
The state government has taken this step to save the farmers from becoming defaulters.
Along with this, the government has also waived the interest on the extended date to the farmers.
The state government itself will pay this interest. For this, the burden of about 60 crores will come to the state government.
Small and marginal farmers will get benefits. As we all know, there are many small and marginal farmers in our country.
Farmers of this class are financially weak and they have to take loans for crop production to meet their repayment needs like seeds, fertilizers, pesticides, agricultural machinery, etc.
If they take these loans from local moneylenders, they have to pay a lot of interest.
In such a situation, to meet the credit needs of the farmers, loans are provided by the state government to the farmers for every Kharif and Rabi season, whose interest rates are very low.
Sometimes these loans are also waived, for which loan waiver schemes are also being run in many states.
Especially small and marginal farmers will get the benefit of this extended date and they will be able to repay the loan on time.
The CM took an important decision in the cabinet meeting. According to media reports, a meeting of the Council of Ministers was held in Mantralaya in the past under the chairmanship of Madhya Pradesh Chief Minister Shivraj Singh Chouhan.
In this, Chief Minister Chouhan said that the last date for repayment of Kharif crop loan for farmers is being extended from March 31 to April 15.
The decision to provide loans to farmers for Kharif crops at a zero percent interest rate was taken by the state government.
The loan repayment period ends today, March 31. Chief Minister Chouhan said that many farmer brothers and sisters have not been able to deposit this amount.
After the expiry of the period, they will become defaulters and they will have to pay more interest after the defaulter.
In view of this, the last date for repayment of the Kharif crop loan is being extended to 15th April, this will facilitate the farmers to repay the loan and they will not be a defaulter.
The government will pay interest of Rs 60 crore for the extended period. Chief Minister Chouhan said that the interest on the loan for the extended period would be paid by the state government, which would amount to about Rs 60 crore.
This amount will be filled by the state government on behalf of the farmers. With this, farmers will be able to fill their loan amount in a convenient way and they will not be able to become a defaulter.
Kharif Crop Loan Farmers repay the loan on time. State Agriculture Minister Kamal Patel has called upon the farmers to ensure that the farmers get their loans deposited by April 15 at any cost.
With this, it will be easy to make loans available again to the farmers at the rate of zero percent interest.
This facility will be terminated due to non-payment of loan on time, due to which farmers will have to pay interest at the rate of 9 percent.
Crop loans are given to farmers in Madhya Pradesh at zero interest rates. Loans are made available by the government under various schemes to the farmers to provide them with the necessary capital for investment in agriculture.
On which interest is waived by the government on the loans taken by the farmers.
The Madhya Pradesh government provides crop loans to the farmers of the state through cooperative banks without any interest, which is different for Kharif and Rabi seasons.
If the farmers repay this loan on time, then they do not have to pay any interest on the loan taken. A crop loan is given twice a year.
One for the Rabi season and the other for the Kharif season. For this, the dates are also announced by the government.
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