National

UP Farmers To Be Free From Loans By Independence Day

न्यूज़ वर्ल्ड इंडिया | 0
2244
| July 14 , 2017 , 08:58 IST

Gifting farmers a different kind of independence, the Uttar Pradesh government has announced that all farmer loans will be waived by this independence day August 15. Around 86 lakh people are expected to benefit from the move which will clear all the debts of small and marginal farmers, after which the case of the other farmers will be taken up.

Deputy Chief Minister Dinesh Sharma had announced in the Vidhan Parishad that the state government would grant clearance for all farmer loan waivers by August 15. The state had allocated a budget of Rs 36,000 crore to pay off the farmer loans in its Assembly meeting, and the execution of the process is expected to be completed in time.

ALSO READ: UP CM Yogi Presents His Maiden Budget, Annual Spending Pegged 10.9 Percent Higher

Sharma stated that the process of verification on farmers' bank accounts would be completed by July 22 following which the process of money transfer would begin. After the completion of the first round of farmer loan waiver, the process to waiver the loans of other farms will begin. Meanwhile, the banks have been told not to issue a notice or take any action against farmers who have defaulted on their loans.

Farmer loan waivers were one of the key promises made by the BJP in its election manifesto ahead of the UP assembly elections and were also one of the first announcements made by the new Uttar Pradesh Chief Minister Yogi Adityanath.

Following the precedence of UP, other states also granted farm loan waivers when farmers protested demanding the same. The farmers' protests in Madhya Pradesh specifically become violent and led to the death of several protestors. Although states like Madhya Pradesh and Maharashtra have also granted waiver of farmers' loans, no end date has been fixed when the promises will be carried out.