63% of Maha Farmers Who Have Obtained Loan Waiver Are Borrowing Again | Aurangabad News
According to a report by the State Bankers Committee, which was submitted to the state Minister of Agriculture, harvest loans of 31.51 lakhs from farmers across Maharashtra were canceled under the Mahatma Jyotirao Phule Karj Mukti Yojana. Of these, 19.68 lakh or 63% of farmers received loans for new harvests.
The total amount of fresh harvest loans granted this year to these farmers until May 31 is Rs 13,152 crore. Most of these loans are between Rs 25,000 and Rs 75,000 per farmer.
State Agriculture Minister Dada Bhuse said: âOur priority in introducing this loan waiver program was not only to repay crop loans, but also to ensure that farmers are not treated as defaulters. Their CIBIL records should also be useful in obtaining new loans.
Bhuse said instructions have been given to banks to ensure that all needy farmers easily get agricultural and harvest loans, whether or not they have benefited from farm loan waiver programs.
Under the program launched by the MVA government, a harvest loan waiver was granted up to Rs 2 lakh for the amount obtained between April 1, 2015 and March 31, 2019. Eligible farmers with loans above Rs 2 lakh will have to pay the remaining amount as a single payment.
Officials said loans totaling Rs 20,109 crore had been canceled in the state so far. The program has benefited a large number of farmers in the Marathwada region who have faced poor harvests due to drought, excessive rainfall and even hailstorms.
Despite the lockdown, for the fiscal year ended March 31, 2021, the state, cooperatives and private banks together achieved 77% of the given target by disbursing Rs 47,972 crore. They had a target of Rs 62 459 crore.
For FY2021-22, the Annual Credit Plan (ACP) for crop loans is Rs 55,560 crore, while the Potential Tied Credit Plan (PLP) for crop loans has been set at Rs 79 190 crore.
Those in the know about the development have argued that this year’s PCA is 3% less than last year’s PCA and 22% less compared to the PLP prepared by the National Bank for Agriculture and the rural development.