Maharashtra loan write-off set to be capped at Rs 1 lakh

The government also said on Monday that it would provide Rs 10,000 to each farmer to help purchase seeds and fertilisers to immediately begin sowing of crops for kharif season. The decision will help nearly 40 lakh farmers

Written by Shubhangi Khapre | Mumbai | Published:June 13, 2017 3:33 am
Maharashtra Farm Loan, Maharashtra Farm Loan Waiver, Maharashtra Loan Waiver, India News, Indian Express, Indian Express News Activists of the Vidarbha Rajya Andolan Samiti celebrate after the Maharashtra government’s loan waiver announcement, in Nagpur on Monday. PTI

The Maharashtra government is set to cap the loan write-off for individual farmers at Rs 1 lakh in an effort to restrict the outgo on account of a blanket loan waiver of Rs 30,000 crore. The ceiling could help the government cover all small and marginal farmers, including those reeling under a debt burden since 2012, according to top government sources.

Out of the 1.36 crore farmers in Maharashtra, there are 80 lakh who are regularly repaying loans. There are 31 lakh farmers who have been debt-ridden since 2012. Even among the 31 lakh farmers who are debt-ridden, the loan waiver would be restricted to the Rs 1 lakh ceiling.

The government also said on Monday that it would provide Rs 10,000 to each farmer to help purchase seeds and fertilisers to immediately begin sowing of crops for kharif season. The decision will help nearly 40 lakh farmers. Sources in the government said the loan waiver modalities and parameters to define the eligibility criteria would require some time. “Banks would be directed to immediately give Rs 10,000 to each farmers, especially those in debt and with small and marginal landholding, to enable them to procure seeds and fertilisers,” said an official.

According to government estimates, the Rs 10,000 direct help would lead to an additional burden of more than Rs 6,000 crore.Chief Minister Devendra Fadnavis had indicated that the loan waiver was to provide maximum benefit to small, marginal and needy farmers across the board. The decision to extend Rs 1 lakh waiver to farmers beyond small and marginal is also a bid to dispel feelings of discrimination among the community. The CM has directed the committee led by Revenue Minister Chandrakant Patil and comprising farmer leaders Raju Shetti and Raghunath Patil to evolve a mechanism to ensure the decision benefits the poor and debt-ridden farmers only.

Higher rates for milk supply from June 20

Farmers supplying milk to dairy cooperative societies are set to get higher remuneration from June 20 to prevent exploitation by cooperatives. The proposal will be mooted at the Cabinet meeting on Tuesday.

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  1. R
    rajesh
    Jun 13, 2017 at 1:22 pm
    IS THIS WHAT YOU ARE TAXING THE COMMON MAN FOR ?? WHAT DO YOU MEAN BY SAYING THAT THE "MAHARASHTRA GOVERNMENT" HAS WRITTEN OFF THE LOANS. TAX PAYERS ARE BEARING THE BRUNT OF MISTAKES MADE BY THE GOVERNMENTS AND THEN YOU SEND YOUR INCOME TAX STOOGES TO COLLECT HAFTA FROM THE COMMON MAN !! FARMERS ARE EXEMPTED FROM INCOME TAX. WHAT ABOUT OTHER BUSINESS PEOPLE AND SMALL TRADERS ? WHY CANT YOU WAIVE THEIR LOANS TOO - OH IT IS BECAUSE THEY ARE A MINORITY AND NOT A STRONG VOTE BANK.
    Reply
  2. V
    vineeth
    Jun 13, 2017 at 1:10 pm
    Hope they will be using AAdhaar to ensure the limit per individual
    Reply
  3. S
    SP
    Jun 13, 2017 at 11:08 am
    It is better to go for a loan insurance scheme where farmers have to pay part of the premium. Those who have better track record should have less premium. The banks should not be put at risk either because of farmers or Corporate en ies.
    Reply
  4. M
    manian
    Jun 13, 2017 at 10:47 am
    To continue in power almost all the states are announging loan waivers.This is going to severly hit the govt.service sectors.The states will bleed but who cares.The farmers have mastered the blackmail technique will never pay any loan in the future.The economy will go to dogs the politicians will be happy as long as they get their votes.Is there no end to this madness?
    Reply
  5. V
    Vivek
    Jun 13, 2017 at 10:25 am
    Loan waiver is just announced not declared. And BJP starts postering it all over the state that "Loan waiver is declared". BJP only knows advertising blindly.
    Reply
  6. M
    Manas Sarkar
    Jun 13, 2017 at 7:52 am
    should be 50000 only, that also to the poor people. Poor people never take loan of 100000.
    Reply
  7. D
    DR MISS
    Jun 13, 2017 at 7:05 am
    Pappu Congress has created problems for farmers poor people in India since 70 years
    Reply
  8. D
    DR MISS
    Jun 13, 2017 at 6:59 am
    Wish u very vvv great success for CM Maharashtra all Bjp members in India Abroad from Dr Miss Anju Bhattacharyya IIT Delhi -110016 M-9711168130
    Reply
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