Uttar Pradesh Chief Minister Yogi Adityanath in a rally held in Lucknow on Thursday announced that he was writing off the loans of 7,574 farmers and gave them certificates saying that the farmers are debt free. The Chief Minister while addressing the gathering said that the income of farmers will be doubled, according to a Zee Hindustan report. The Uttar Pradesh Chief Minister also targeted previous governments over their treatment of farmers and added that they have not been the priority of the state governments. Adityanath said ”In the last 14-15 years farmers have not been the priority of various state governments in the state. The farmers have been burdened by debts,” according to news wire service ANI.
Speaking at the same event Union Minister for Home Affairs Rajnath Singh highlighted various schemes implemented by the Centre to benefit farmers. The Union Minister also said that farmers can now avail farm insurance at low premiums. Rajnath Singh said ”Under the PM Fasal Bima Yojana farmers can insure their crops at low premiums, farmers can now get insurance for Rabi crops for 1.5 percent, two percent for Kharif crops and less than five percent for Naqdi crops. Rajnath Singh also said that the government plans to double the income of farmers by 2022, according to an ANI report.
The Reserve Bank of India had yesterday said that farmers can now avail loans of up to Rs 3 lakh at a subsidised rate of seven percent, but this amount could go down to four percent in case of prompt payment by the farmer. The RBI has decided to offer bank a subvention of two percent for loans given by rural and semi-urban branches, according to PTI.