News of relief for the farmers! Interest of Rs 2 thousand 123 crore will be waived off for more than 11 lakh defaulter farmers

The Vocal News Hindi

Cabinet Decisions: There is good news for farmers in Madhya Pradesh. In the meeting of the Council of Ministers chaired by Chief Minister Shivraj Singh Chouhan today at Mantralaya, loans of up to Rs. Approval was given to the interest waiver scheme to waive off interest amount of Rs 2 thousand 123 crore on 19 thousand defaulter farmers.

The amount of interest will be filled by the government

This scheme was approved by the Council of Ministers in line with Chief Minister Chouhan’s announcement that “the amount of interest will be paid by the government to those farmers who have become defaulters in the scheme of loan waiver”. The state government will compensate the defaulter farmers who have outstanding loans of up to Rs. 2 lakh including principal and interest as on March 31, 2023 from Primary Agricultural Credit Cooperative Societies (PACS).

Special facility to provide fertilizers

According to the scheme, the farmer should have a loan of up to Rs 2 lakh including short-term crop loan and medium-term converted loan with interest till March 31, 2023. Defaulter farmers will have to apply in their committee to avail interest waiver. The list containing the details of outstanding loan and interest etc. on the defaulter farmers will be made public through a portal at the bank level. Along with this, special facility has been given to the farmers to provide fertilizers for agricultural work. The amount deposited by the farmer in cash in his loan account, he will be able to get fertilizer up to that amount in the form of loan from the committee. The last date of the scheme has been fixed as November 30, 2023. Detailed instructions of the scheme will be issued by the Cooperative Department.

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