Farm Loan Waiver: Government will waive an agricultural loan of Rs 964 crore taken from the Land Development Bank. Farmers who pay the loan honestly will get an incentive of 50-50 thousand rupees, 10,000 crores will be spent on the scheme.
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Taking a big bet, the Maharashtra government has announced a farm loan waiver. The state government has decided to waive the loan of Rs 964.15 crore. This will benefit 34,788 farmers who have taken loans from the Land Development Bank.
Debt waiver is a big political issue in the state. It has been told in the state budget that an amount of Rs 275 crore 40 lakh will be used for payment of arrears of land development bank employees. In the future, land and buildings of land development banks will be used for government schemes.
Presenting the budget, Finance Minister Ajit Pawar gave information about many other decisions for the farmers. Pawar said that in my earlier budget speech on March 6, 2020, I had announced an incentive of Rs 50,000 to farmers who regularly repay their crop loans. But due to financial constraints, this amount could not be distributed. But due to financial constraints, this amount could not be distributed.
20 lakh farmers will get benefit: However, today I am happy that the promise made to the farmers is being fulfilled in the coming financial year. I thank and appreciate the farmers who regularly repay their loans. They will get this amount. About 20 lakh farmers will benefit from this grant. 10,000 crore is estimated to be spent on this in the year 2022-23.
The loan will be available even at zero percent interest: Finance Minister Ajit Pawar said that in the budget of 2021-22, I had announced to give loans at zero percent interest to farmers from the Kharif season of 2021. As a result of this scheme, the crop loan disbursement increased to Rs 41,055 crore by the end of February 2022. In the year 2022-23, Rs 911 crore will be provided to 43.12 lakh farmers at zero percent interest.
A warning is given to the central government on crop insurance: The Maharashtra government has warned the Center that it should make changes in the crop insurance scheme or else the state government may be out of it. Finance Minister Ajit Pawar said that Gujarat and some other states have already been out of the Pradhan Mantri Fasal Bima Yojana. The Mahavikas Aghadi government has demanded an amendment in the scheme from the Prime Minister. If this is not accepted, then I would like to make it clear that we will consider other options to give compensation to the farmers.
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