Loan waiver scheme to benefit 6.64 lakh farmers in Haryana

Written by Charanjit Ahuja | Chandigarh, Jun 27 | Updated: Jun 29 2008, 03:40am hrs
The loan waiver scheme is likely to benefit 6.64 lakh farmers in Haryana according to data of prospective beneficiaries compiled by different banks in the state. The total relief will be of about Rs 2,108.46 crore to farmers of the state either by way of waiving off loans or by relief.

As the scheme has got flak from opposition and pat from ruling party in Haryana, the chief minister clarifying some of the issues said that the scheme is in consonance with the policies of the Congress party. He said finance minister P Chidambaram had announced the scheme in Budget for the year 2008-09 so as to benefit the hard pressed farmers in the country.

He clarified that all those farmers who had obtained loan from district cooperative banks between March 31, 1997 and March 31, 2007 will benefit the scheme. This scheme will completely waive off loans of those marginal and small farmers who were defaulters as on December 31, 2007and had not returned their loans by February 29, 2008.

Under the lump sum payment scheme, other categories of farmers will get 25% of the loan amount waived off in case they deposit 75% of their defaulting amount by June 30, 2009. More than 5.06 lakh farmers of Haryana will have a benefit of Rs 1,451.19 crore, including, more than 4.24 lakh farmers who will get short term benefit of Rs 1,113.32 crore and 82,727 farmers will get benefit of Rs 299.19 crore in long term.

The chief minister said more than 1.35 lakh farmers have obtained loans amounting to Rs 558.51 crore from commercial banks, while in case of regional rural banks, 22,228 beneficiaries will get a relief of Rs 137.44 crore.