Haryana Chief Minister Announces Financial Aid worth Rs. 4750 for Farmers

Manohar Lal Khattar, Haryana Chief Minister today announced a package worth Rs. 4,750 crores for the farmers. The minister waived off penalty as well as interest on crop loans in 3 schemes giving relief to farmers. He said, "In total, we have announced a package of around Rs. 5,000 crore for the farmers. It will be a big relief to them. 10 lakh farmers will get its benefits".

Khattar also waived fine or penalty on loans taken from the Primary Cooperative Agriculture Societies or PACS saying that around 8.25 lakh cultivators have defaulted in reimbursement of loans.

He added that "In PACS, as many as 13 lakh farmers have taken loans, of which 8.25 lakh have become NPAs. They give 7% interest in which state government pays 4% and 3% is paid by the Centre through a scheme. In case of failure, a 5% penalty is also imposed. We are waiving off 5% penalty of the farmers".

The CM further said, "3% amount paid by the central government through a scheme & from now on the government will pay 1.5% and the remaining 1.5% will be borne by PACS. Now, full interest & penalty have been waived off & farmers will have to give the only original loan amount. They must deposit the money & convert their accounts into normal. Farmers will get the benefit of Rs. 2,500 crore”.

He also announced a package of Rs. 1,800 crores to waive penalty on crop loans, which has been taken from District Cooperative Central Banks (DCCB). He told "85,000 farmers have taken loans from the DCCB and 32,000 accounts have become NPAs. Those who have taken loans of amount Rs. 5 lakhs will now have to give only 2% interest instead 12 to 15%".

Khattar said, "Farmers who took loans of Rs. 5 to 10 lakhs will give 5%. Those with loans over Rs. 10 lakhs will pay 10% interest. Their penalties have been waived off. The last date to deposit money is 30^th November. Farmers will be benefitted with Rs. 1,800 crores”.

The minister also made an announcement for growers, who have taken loans from the Land Mortgage Bank.

He said, "1.5 lakh farmers who have taken loans through the Land Mortgage Bank, 70,000 have become NPAs. The total amount is Rs. 1,400 crores and the principal amount is Rs. 700 crores. We have waived off the fine and growers will only have to pay 50% of the interest. The rest 50% will be paid by the government. The scheme will cost Rs. 450 crore”.

He also mentioned that the Haryana government has purchased the crop that was not sold. To recall, Assembly elections in Haryana is scheduled to be held in October-November this year.

Source - NDTV