Jharkhand’s farm loan waiver scheme

#GS2 #SCHEMEs #GOVERNANCE #GS3 #ECONOMY

The Jharkhand cabinet approved a farm loan waiver scheme with a total budget of Rs 2,000 crore. 

Jharkhand farm loan waiver scheme eligibility:

  • The loan waiver scheme will give relief to 7.83 lakh farmers in the state. 
  • In addition to this, Rs 50,000 will be waived for 1.24 lakh farmers. For each farmer, the capping is at Rs 50,000. 
  • The amount will be paid by the government to their respective banks
  • Both landowners and landless farmers will be eligible. The farmer should have repaid installment at least once during the repayment period.
  • The number of farmers in Jharkhand is anywhere between 22 lakh to 32 lakh - most are single crop growers.
  • There are two figures available on the amount of farm loan due. Jharkhand has 12.93 lakh farmers who have farm loans. 
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