Crop loan waiver scheme is to provide loan wavier relief of up to Rs.2 lakhs for the poor and marginalized farmers. The scheme intends to provide financial support to the drought-hit farmers in the state.
Features of crop loan waiver scheme :
The following are the features of the scheme –
- To grant financial assistance to the debt-ridden farmers.
- To reduce farmers debt.
- To provide current loans to the farmers for the forthcoming sowing season.
Highlights of the crop loan waiver scheme :
The following are the highlights of the housing scheme. – The loan amount will be distributed to the eligible farmers in four phases.
- The amount of Rs.10,500 crore is allocated in the budget 2018-19.
- The amount of Rs.6,500 crore is allocated for the farmers to get an initial loan from the banks for agricultural activity.
As per the declaration by the Karnataka Information, Department of Information and public relation concerning crop loan waiver :
As per the commitment of the coalition government to about 40 lakh crop loanee farmers of both commercial banks and co-operative banks, the crop loan waiver scheme is implemented to reach all eligible farmers. In this
- 36 lakh farmers have submitted their self declarations, in which
- 20 lakh farmers have correctly submitted their Aadhar Card, Ration Card and Land Sy. No. and remaining
- 7 lakh farmers are requested to give their correct Aadhar Card/Ration Card/Land Sy. No. in February 2019 itself for prompt waiver release
- Rs. 1900 crores released in 1st installment to
- 4 lakh farmers towards crop loan waiver.
Crop loan waiver – 1st installment :
All eligible farmers who submit their Aadhar Card, Ration Card and Land Sy. No. will get loan waiver 1st installment release within February 2019 for restructured, overdue and regular commercial bank loans.
All eligible farmers in co-operative sector will get their loan waiver release in the very month when their loan repayment become due for repayment.
For details about Farmer’s loan waiver, visit : http://clws.karnataka.gov.in/