Madhya Pradesh Affairs
Rs 2,123 cr Interest of more than 11 lakh defaulter farmers waived
The State Cabinet here on Tuesday approved the interest waiver scheme for the waiver of the outstanding interest up to Rs 2 lakh of 11 lakh 19 thousand defaulter farmers of Primary Agricultural credit (PACS) to waive the amount of Rs 2 thousand 123 crore.
The scheme was approved by the Cabinet in accordance with the announcement of Chief Minister Chouhan “Farmers who have become defaulter due to loan waiver, their interest amount will be paid by the government”. 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).
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 fertilisers 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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National and International Affairs
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