Jharkhand Waves Goodbye to Farmer Loans

Jharkhand Agriculture Minister Badal Patralekh announced the waiver of farm loans up to Rs 2 lakh to benefit over 1.91 lakh farmers. This follows a similar relief effort in 2021-22, where loans up to Rs 50,000 were waived. The minister urged banks to facilitate this by submitting necessary proposals.

Jharkhand Agriculture Minister Badal Patralekh has made a significant announcement aimed at alleviating the financial burden on the state's farmers. On Friday, he declared that the government will waive farm loans up to Rs 2 lakh, aiding over 1.91 lakh farmers.

In a meeting with officials from the State Level Bankers' Committee (SLBC), Patralekh called on the banks to submit proposals to implement this initiative. 'Loans ranging from Rs 50,000 to Rs 2 lakh taken by farmers till March 31, 2020, will be waived through a one-time settlement,' he stated.

This latest move builds on a previous effort by the state government. In the 2021-22 period, it had waived crop loans up to Rs 50,000. Consequently, more than 4.73 lakh farmers benefited, with the Jharkhand government disbursing over Rs 1,900 crore to banks. Additionally, Patralekh has urged banks to propose closing accounts that have turned into non-performing assets (NPAs), further helping farmers become debt-free.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)