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Jharkhand Government: Waives farm loans of up to Rs 50,000 for Marginal Farmers

RANCHI, DEC 25: On Wednesday the Jharkhand Government announced farm loan waiver of up to RS 50,000 for the marginal farmers.  It would provide great relief for around 9 lakhs farmers in the state, according to the cabinet. This move is in continuation with the Ruling Coalition’s promise of laying off farm loans of up to 2 lakhs if voted to power.

The Government has allocated Rs 2,000 crore in the current financial year for the loan waiver. As per the decision, the farmers who have availed the loan of upto 50,000 until 31st March, would be given the benefit under the scheme. It would be applicable only to one member from each family. As stated in Hindustan, Times Cabinet Secretary Ajoy Kumar said that those farmers who have paid at least one EMI in the loan tenure period will be eligible.

As per economic times, Finance Minister Rameshwar Oraon told PTI ‘that his Government has decided to give the benefit of loan waiver to marginal farmers at first, and in the second and third phases, the government will try to waive loans up to Rs 1 Lakh and Rs 2 lakh, respectively.’

For availing the benefit the farmers need to submit their Ration and Aadhar card numbers linked to their bank account, with the application cost being Rs 1. The government will transfer the amount to their respective bank branch after Verification.