Rajasthan government has announced the much awaited Farm Loan Waiver Scheme / Fasal Rin Mafi Yojana for farmers. Subsequently, CM made announcement about farm loan waiver in the Rajasthan Budget 2018-19. Under this Karj Mafi Yojana, govt. is going to waive off the entire overdue / interest on loans till 30 September 2017. Moreover, govt. will waive off debt / outstanding loan of up to Rs. 50,000 of each farmer taken from cooperative banks.
CM Vasundhra Raje “Overdue Alpkalin Fasali Rin Mafi Yojana” will provide great relief to the farmers. Henceforth, the effective implementation of this scheme will cost Rs. 8,000 to the state exchequer.
The state govt. is also going to setup State Farmers Debt Relief Commission in order to hear the pleadings of poor farmers. Accordingly on the basis of their merit, farmers can avail additional benefits on loans under Kisan Karj Mafi Yojana / Farmers Debt Waiver Scheme.
Rajasthan Farm Loan Waiver Scheme – Fasal Rin Mafi / Kisan Karj Mafi Yojana
The important features and highlights of this Kisan Fasal Rin Mafi Yojana are as follows:-
- Small and marginal farmers are the most vulnerable sections of the society. So, the state govt. has decided to start farm loan waiver scheme / overdue fasal rin mafi yojana Rajasthan.
- Accordingly, the entire overdue loan amount of all farmers till 30 September 2017 will get waived off. Rajasthan Kisan Karj Mafi Scheme will bring the farmers in the outstanding loan category.
- In addition to this, govt. will provide one time loan waiver of up to Rs. 50,000 of this outstanding loan taken from various cooperative banks.
- Rajasthan state govt has allotted a budget of Rs. 8000 crore for the successful implementation of Rajasthan Kisan Rin Mafi Yojana.
- In 2018-19, govt. will provide Rs. 384 crore as subsidy for distribution of short term interest free Loans / Fasal Rin. In addition to this, govt. will also provide subsidy of Rs. 160 crore as damage fulfillment interest.
Moreover, state govt. has also decided to constitute Rajasthan State Farmers Debt Relief Commission (राजस्थान राज्य कृषक ऋण राहत आयोग) in Rajasthan Budget 2018-19. This commission will work as a permanent institution. Farmers can present their side in front of this aayog and on the basis of their merit, farmers can avail more relief on their loan amount.
Rajasthan govt. has spend Rs. 2814 crore to procure 5,51,000 metric tonne of Moong, Urad, groundnut and soyabean to provide appropriate prices of their crops to farmers.