The Newly appointed Chief Minister of Madhya Pradesh has waived of crop loans upto Rs. 2 lakh. The farm loan waiver in MP was the poll promise of the Congress party. They announced that if the party comes to power they will waive off farmer`s loans upto with in 10 days of government formation.
The primary objective of the scheme is to help farmers affected due to drought, fallen prices of the farm produce. The farm loan waiver will relieve burden from the farmers & will provide financial support to them.
MP Farm Loan Waiver Scheme:
- Farm loans upto Rs. 2 lakh are waived off
- All the short-term crop loans taken from nationalised & cooperative banks as on March 31st 2018 is waived off
Eligibility / Who can apply for farm loan waiver?
- Applicable only to the Madhya Pradesh farmers
- Loan upto Rs. 2 lakh only are waived off
- Only crop loans are waived off
- Loans taken from nationalised & cooperative banks only are waived off
The decision of the farm loan waiver was already taken by the new government & the CM signed the order within an hour of taking an auth. Rajesh Rajora, principal secretary, farmers’ welfare and agriculture development department, issued an order for the implementation of the scheme.
Rahul Gandhi while addressing a rally in Pipaliya Madhya Pradesh on 7th June had announced that if the congress government comes to power with in next 10 days the farm loan will be waived off.