Chhatrapati Shivaji Maharaj Krushi Samman Yojana In Maharashtra | Maharashtra Farmers Loan Waiver Scheme

Chhatrapati Shivaji Maharaj Krushi Samman Yojana In Maharashtra | Maharashtra Farmers Loan Waiver Scheme

Owing to the problems that the droughts have caused in the state of Maharashtra and its farmers, the Chief Minister of the state, Devendra Fadnavis created a record by making the official announcement of the biggest loan reduction scheme that the country has ever seen. Eliminating the burden of loan from the shoulders of the farmers is not new.

Chhatrapati Shivaji Maharaj Krushi Samman Yojana

The farmers of the state were suffering under the pressure of the crop loan amount and its interests. As the droughts and the respective crop failures have taken its toll on the agricultural workers, since the year 2012, they are not in a position to make the monthly installments or the interest on the loan they had taken.

“Central Government also supports farmers of the country by the Crop Loan Scheme At Low Interest Rate.”

Launched date and important declaration in launching

CM of Maharashtra has made the welcome announcement in front of the press on Saturday that the state government will be freeing the ferments from paying the crop loans.

The name of the scheme is Chhatrapati Shivaji Maharaj Krushi Samman Yojana. The announcement was made on the 11th of June, 2017. According to the reports, after the implementation of the scheme, about 89 lakh farmers will be released from the worries of paying the loan. With this program, the state government will provide a waiver of Rs 34,000 crore agricultural loans. The last update of the scheme was made on the 22nd of June when it was decided that the new applicants of agricultural loan will also be included in the program.

Important features of the scheme

The following are the salient features of the scheme that was announced by the state government of Maharashtra:

  1. Releasing the farmers from the burden of loan– as it has already been mentioned that the scheme is expected to release almost 89 lakh farmers form the pressure of loan. Around 40 lakh farmers will be fully exempted from the payment while the rest will be benefitted with refunds.
  2. Total amount of money to be waived – to provide a break to the poor farmers of the state, the scheme will provide a massive agricultural loan waiver of Rs 34,000 crores. The huge amount will be collected from various sources.
  3. Role of the Cabinet Ministers and MLAs – to cope with the economic requirements, the Cabinet ministers have decided to join hands and reduce their expenses to provide money for the scheme. The MLAs and ministers of the state will also let go of their one month’s salary for pooling resources towards this cause.
  4. Agreement between state authority and banks – apart from this, the state government will also reach an agreement with the financial institutes or the banks. It is necessary so that the state can pay for the huge debt. The tenure that has been set for the payment of the debt is of four years.
  5. Refund on the loan amount – as per the guidelines of the scheme, those farmers who have been paying their loan interest without fail will be rewarded with an incentive of 25% cash back on the total amount of the loan.

You can read All Sarkari Yojana Of Central Government. “

Eligibility criteria for the scheme

The following are the criteria that the farmers will have to meet for receiving the benefits of the loan waiver:

  1. It means that the loan waiver scheme will only be applicable to those farmers who are solely dependent on agricultural activities for earning their livelihood. If they are associated with any other activity that brings in money, they will not be permitted to take the advantages of the scheme.
  2. The benefits of the program will only be provided to those farmers who reside and have farming lands within the boundaries of the state. It is an exclusive loan waiver program for the agricultural workers of Maharashtra.
  3. There are many stages of the loan waiver scheme. For instance, if a farmer has received a loan that only amounts to 1.5 lakhs or less, then they will be exempted from the payment of any interest and the actual completely.
  4. The guidelines of the scheme suggest that those farmers who have received loans during 2012 – 2016 and those who are still to repay the loan will be offered a refund of 25% or an amount of Rs. 25000 (whichever will be less).
  5. Around 6% of the agricultural workers will be an OTS. Under this, the farmer will be provided with 25% of the loan amount that is left or Rs. 1.5 lahks (whichever will be less). It will be offered to candidates who have a debt of 1.5 lakhs.

Also Read – Yogi Mukhbir Yojana Uttar Pradesh

Publishing committee of the scheme

The cry for loan waver was made by all farmer associations. Before the decision was finalized, the CM met and discussed the matter with Raju Shetti, the leader of Swamibhani Shetkari Sanghatana. He also went to Delhi to meet Sharad Pawar. After much deliberation a committee consisting of six members was formed. The committee had representative of the Shiv Sean Diwakar Raote, Pandurang Fundkar – the Agriculture Minister, Sudhir Mungantiwar – the Finance Minister, Subhash Deshmukh – the Cooperatives Minister and Girish Mahajan – the Water Resource Minster. Once the complete draft was finalized, the CM made the official announcement.

The scheme that the Maharashtra government has announced is, by far the biggest loan reduction program. Under the scheme, the government will either free the framers from the pressure of paying the whole loan amount or a certain percentage of it. The decision has been successful in pacifying the rifts for the time being.

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