Madhya Pradesh Krishi Rin Samadhan Yojana

Madhya Pradesh Krishi Rin Samadhan Yojana

Key information:

  • Launched in: Madhya Pradesh 
  • Launched by: The state government of Madhya Pradesh 
  • Type of Benefit: Loan benefit 
  • Beneficiary: farmers of Madhya Pradesh 
  • Budget allocation: 2600 crores 
  • Eligible: All the farmers 

Objective:

  • To encourage and support the Farming in the Madhya Pradesh 
  • To help the Farmers to come out of their debt. 
  • To Waive the Interest on the Bank Loans of the Farmers. 

Key facts:

  • The state government of Madhya Pradesh has launched new scheme named Madhya Pradesh Krishi Rin Samadhan Yojana which will benefit around 17.78 Lakh Farmers. 
  • This Scheme will waive the Interest on the Bank Loans of the Farmers. 
  • Hence, all those farmers who are not able to pay the Loans taken from the banks by 30th June 2017 will get advantage under this MP Krishi Rin Samadhan Yojana 2018-2019. 
  • Accordingly, this Yojana, the State Government will allocate the Funds and for this, the MP State Government is going to spend Rs.2, 600 Crores. 
  • In this scheme, The MP State Cabinet has made composition for all the Farmers So, that Farmers can pay their Loans in 2 instalments. The Farmers can pay the first instalment by 15th June 2018 and that should be 50% of the Loan Amount. 
  • Obviously, this scheme is going to cover 80% of the Debt Amount and the remaining 20% amount will be bear by the Banks. 
  • All the Farmers of the MP who are failed to deposit their Loans by 30th June 2017 are going to get the Debt Relief. 

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