In a primary, the Maharashtra authorities would be the guarantor for farmers who couldn’t profit from the Mahatma Jyotirao Phule crop loan waiver scheme because of the outbreak of the novel coronavirus pandemic. This can assist farmers avail crop loans for the upcoming kharif season.
The transfer is anticipated to learn over 11 lakh farmers throughout the State. A Authorities Decision to present impact to this loan assure was issued on Friday, and conveyed to district central co-operative banks, business and rural banks.
“The government cannot immediately pay off the loans for these farmers. The crop loan waiver scheme was meant to make farmers’ account nil and prepare them to take new loans. Therefore, the State government has taken this decision,” stated a Cooperation division official.
The federal government has given clear instructions to banks to say pending loan as “to be paid by the government” and to not think about the farmers as defaulters. “We have given instructions to make loans available for them for the kharif 2020 season,” stated the official.
Shortly after assuming workplace in December final yr, the Maha Vikas Aghadi (MVA) authorities had introduced the Mahatma Jyotirao Phule crop loan waiver scheme which was to learn 32 lakh farmers.
In response to official knowledge, round 19 lakh farmers within the State had benefited from the federal government scheme by March 31, with loans worth ₹12,000 crore being waived.
Because the financial system took a tough hit because of the nationwide lockdown, the State struggled to pay the excellent loan quantity of ₹8,100 crore to the remaining 11.12 lakh farmers.