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As the festive season approaches, the government has announced a major relief for farmers by waiving off agricultural loans worth Rs 400 crore. This step comes ahead of the Navratri festival, providing much-needed financial relief to 1,76,977 farmers. The state government aims to alleviate the burden of short-term agricultural loans, especially as assembly elections are nearing in several states.
The state government has promised to waive loans of up to Rs 2 lakh under the Agricultural Loan Waiver Scheme. This recent announcement is part of a broader effort to support about 38 lakh registered farmers. The total loan waiver under this scheme is expected to help many farmers overcome their outstanding debts. As of now, loans worth Rs 400 crore have already been waived for the selected beneficiaries.
The Loan Waiver Scheme was first introduced on 29 December 2020. Initially, it aimed to waive off short-term loans up to Rs 50,000. However, this limit has now been raised to Rs 2 lakh, significantly increasing the number of farmers who can benefit. Any farmer with an outstanding loan up to Rs 2 lakh for the financial year 2024-25 will be eligible for the scheme.
The primary goal of the Loan Waiver Scheme is to:
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To benefit from this scheme, farmers must meet certain criteria:
To qualify for the Loan Waiver Scheme, farmers must fulfill the following conditions:
Farmers need to apply online and submit the following documents:
Farmers in Jharkhand can apply online for the loan waiver through the official portal: Loan Waiver Scheme Jharkhand. If any farmer finds it difficult to apply, they can also seek help at the nearest Common Service Center (CSC) or bank branch. Farmers can also contact their district Agriculture Department for more information.
Also Read: Gadkari Encourages Tractor Manufacturers to Switch to Alternative Fuels
This loan waiver scheme is a significant step towards supporting the farmers of Jharkhand and providing them with the financial relief they need. With loans up to Rs 2 lakh being waived, many farmers will be able to start fresh and focus on the upcoming agricultural seasons without the burden of debt.
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