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.
