In Khadse’s absence, CM announces stamp duty waiver for crop loans up to Rs 2.5 lakh

The CM had convened a meeting to review crop loans at his official bungalow in south Mumbai, with the kharif sowing season for 2016-17 approaching. Khadse also heads the Agriculture portfolio.

| Mumbai | Updated: June 4, 2016 3:15 am

Chief Minister Devendra Fadnavis Friday declared a waiver of stamp duty and registration fee for crop loans and term loans up to Rs 2.5 lakh. The announcement has been made in the absence of Revenue Minister Eknath Khadse, who heads the stamps and registrations portfolio.

The CM had convened a meeting to review crop loans at his official bungalow in south Mumbai, with the kharif sowing season for 2016-17 approaching. Khadse also heads the Agriculture portfolio.

At the meeting, Fadnavis observed that in several places, it has been found that banks are deducting the crop insurance amount while restructuring crop loans in drought-hit belts.

Appealing to bankers to adopt a ‘more humanitarian’ approach, the Chief Minister ordered district collectors and cooperatives department to act against banks derelicting their responsibilities.

“After facing drought for four consecutive years, farmers are anxiously awaiting the arrival of monsoon this time. The sowing season will start in a few days. The crop loans must be disbursed expeditiously to allow farmers to purchase seeds and fertilisers,” Fadnavis said.

He has now asked district collectors to review the crop loan position in their respective regions on a weekly basis.

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