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MP Govt. Announces Reimbursement of Additional Loan Interests for Farmers

Farmers who were forced to pay an additional sum as interest because they trusted the previous government's loan waiver promise, which it could not keep throughout its time, have breathed a sigh of relief as a result of the CM's declaration.

Chintu Das
Farmers
Farmers

During the budget session of the MP legislative assembly on 14 March, Madhya Pradesh Chief Minister Shivraj Singh Chouhan made numerous announcements. According to the report, the CM said that the state government will pay the interest owed on defaulter farmers' debts, as well as the Covid period's electricity dues.

CM Chouhan outlined his government's accomplishments while thanking the Governor for his annual budget presentation. The CM also made numerous other announcements, including an increase in the MLA fund, revisions to the marks evaluation method for police constable recruitment, revamping the Ladli Laxmi Yojana, and relaunching the Mukhyamantri Kanyadan Yojana.

Additional Loan Interests to be Paid by the State

"The government would pay the additional interest of the farmers who become defaulters due to the Congress's loan waiver promise," the CM stated while declaring that the state government will reimburse the loan interests on behalf of the farmer.

The CM, in a dig at Congress, said that the loan waiver gimmick had caused the loan repayment to be interrupted. "Many farmers defaulted on their loans after receiving the promised remission of Rs 2 lakh. These farmers are now paying unnecessarily high interest rates. "For such defaulters, the government would refund the additional interest," CM Chouhan asserted.

Farmers who were forced to pay an additional sum as interest because they trusted the previous government's loan waiver pledge, which it could not keep throughout its time, have breathed a sigh of relief as a result of the CM's declaration.

Covid Electricity Dues Worth Rs 6400 Crore Will Be Waived By The Government

The Chief Minister further declared that the electricity dues for the duration of the covid pandemic would be waived. Chouhan said that 88 lakh people's past-due power payments will be forgiven. 48 lakh consumers had settled their power bills under the Samadhan Yojana. Their money would be repaid, and future invoices would be modified accordingly, as reported.

While the state would bear an additional expense of Rs 6,400 crore, the electricity bill exemptions will directly help lakhs of customers.

MLA Fund Has Been Increased By One Crore

To help MLAs, Chief Minister Chouhan announced an increase in MLA funding. "We're making another historic choice today." The MLA funds in Madhya Pradesh have been raised from Rs 2 crore to Rs 3 crore as of today. "A voluntary gift of Rs 50 lakh would be made in that case as well," CM Chouhan stated.

The Congress MLAs, on the other hand, have urged that the sum be increased to Rs 5 crore. The demand for increased MLA funding in Madhya Pradesh had been long overdue, and it has now been met.

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