Yogi Adityanath government waives farm loans worth Rs 36,000 crore in UP - Startup news, funding, investment, entrepreneurs, earn money, technology etc

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Tuesday, April 4, 2017

Yogi Adityanath government waives farm loans worth Rs 36,000 crore in UP

This is a very good work done by BJP in UP. Yogi Adityanath government waived crop loans of around 86 lakh small and marginal farmers of Uttar Pradesh, incurring a total cost of over Rs 36,000 crore. Yogi government also decided to set up 5,000 wheat purchasing centres across the state. To avoid middlemen, farmers can sell their produce directly to such centres by showing Aadhaar cards or land sowing papers.


Cabinet minister Siddharth Nath Singh said loans of up to Rs 1 lakh taken by small and marginal farmers, with land holdings of less than five acres, until March 31, 2016, would be waived. The cabinet also decided to declare loans worth Rs 5,630 cr given by banks to the state's 7 lakh farmers as "non-performing assets", writing these off.

He also said, The total expenditure on these two heads would be Rs 36,359 crore, which would be raised through 'Kisan Rahat Bond' to keep the budget deficit within the limit of 3% of GDP.

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