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Jharkhand Govt’s great step for farmers, waives Rs 980 crore Farm loan.

The Jharkhand government has waived off  Farm loans worth Rs 980 crore of 2.46 lakh farmers in the state so far and is committed to their welfare. Chief Minister Sh. Hemant Soren shared this in his tweet.

Chief minister Hemant Soren on completion of one-year of his government on December 29 last year had officially announced the farm loan waiver scheme.

Jharkhand CM

In the first phase, the government has decided to waive farm loans up to Rs 50,000.

State agriculture minister Badal Patralekh of Congress, Said In the presence of the global epidemic corona,  Our Government, led by Mr.Hemant Soren  Ji, is determined to waive off agricultural loans of farmer brothers in line with its promise.

The state government is committed to loan waiver of the farmers This scheme has brought happiness on the face of those farmers who were under debt,”  in a statement issued by the state government has been quoted as saying that the government had announced loan waiver in the budget and work is on to take the scheme forward.

“The government has waived off loans of 2,46,012 farmers so far. A total amount of Rs 980.06 crore has been given in the loan waiver of farmers,” the minister said.

He said banking correspondents will also be engaged to expedite the scheme and urged farmers to link their accounts with Aadhaar by visiting banks.

The Jharkhand Budget 2020-21 was presented in the state assembly at an estimated cost of Rs 86,370 crore. In this budget, revenue and expenditure were estimated at about Rs 73,316 crore and capital expenditure was estimated at around Rs 13,054 crore. About 75% of the total population of the state of Jharkhand depends on agriculture and allied activities. The Jharkhand State Government works determinedly for the development of the people associated with the agricultural sector and thus this time they will start the Jharkhand Farm Loan Waiver Scheme.

Jharkhand farm loan waiver scheme for fasal Rahat Yojana is new steam with are launched by Jharkhand Chief Minister on 1st January 2021. In this , the state government will have the power to waive their loan amount up to rupees 50000 per farmer into the state

According to the government of Jharkhand, the Chief Minister decided to start a Startup farm loan waiver scheme to help the farmers to get rid of the sum of the loan amount. 

As per this scheme, only small and marginal farmers can avail of benefits for this scheme. At the same time, those banks will also be benefited those farmers who take the money as a loan but are not able to repay. With this scheme, the money will be returned to the banks and they will be able to allow other farmers as well. Through this scheme, to provide big relief to the farmers of the state.

Jharkhand Fasal Rahat Yojana objective

The main purpose to start this scheme is to increase farmer’s income because farmers are the backbone of our country. As we all know farming is a chancy business and it’s totally depends on weather conditions. To make our farmers’ tension free from bad weather conditions this scheme has started

Eligibility criteria to avail of the Fasal Rahat scheme benefits

In order to benefit from the scheme, the applicant has to adhere to the following:

  1. The applicant must be a resident of Jharkhand state.
  2. The applicant seeking a loan waiver from the Jharkhand government should be a farmer or be involved in agricultural practices.
  3. The applicant must have taken a loan from banks for farming or any other related activity.
  4. Only those farmers who have paid at least one EMI in the loan tenure period will be considered eligible for the loan.

With this loan waiver scheme, farmers can now breathe easy as their loans no longer loom over their shoulders stressing them out day after day. With a waiver, farmers will now have more disposable income which they can use for their benefit and welfare. The Fasal Rahat Yojana is an ingenious step towards farmer welfare and farmers in Jharkhand can now celebrate financial relief in the wake of this scheme.

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