Millennium Post

Rajasthan announces loan waiver for farmers, to cost Rs 8,000 crore

Rajasthan announces loan waiver for farmers, to cost Rs 8,000 crore
Jaipur: Rajasthan Chief Minister Vasundhara Raje on Monday announced one-time crop loan waiver of up to Rs 50,000 for small and marginal farmers, and land revenue exemption.
The loan waiver is for the marginal farmers in the overdue and outstanding category of a short loan provided by cooperative banks. This will cost Rs 8,000 crore to the state exchequer.
Raje also announced constitution of a farmers debt relief commission that will work as a permanent institution. Farmers would be able to get relief on merit basis after presenting their case before the commission.
She also announced land revenue (lagan) exemption that would benefit almost 40-50 lakh farmers.
To promote agro-based industries and services, Raje announced to increase maximum limit of interest subsidy in a year from 5 lakh to 7.5 lakh.
In rural areas, valuation of agriculture land up to 1,000 sq metre will be done at the rate of agriculture land instead of the rate of residential land to help farmers sell or buy the land for agriculture purposes.
The chief minister also announced to allot 2 lakh agriculture electricity connections which were pending till January 2012.



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