The Scheme
- 2008 Union finance minister P. Chidambaram announces farmer debt waiver and relief scheme in budget; PM Manmohan Singh writes to beneficiaries “seeking their support”
- Rs 52,275 cr Total money that was disbursed to eligible farmers across the nation as part of loan waiver scheme
- Rs 50,000 The loan limit below which small, marginal farmers with up to five acres (2 hectares) land are eligible for waiver. Farmers with higher loans get partial relief.
- 3.45 crore Total number of farmers whose financial obligations the state was expected to reduce with the launch of the scheme.
- CAG An audit of 1,00,000 cases in 800 bank branches reveals holes in implementation and monitoring of scheme. Documents tampered with to provide benefits to ineligible farmers. Some eligible beneficiaries got less benefit than due; others got more than due. Some banks wrongly charged farmers for their services. Microfinance institutions also got relief. Large number of farmers did not get loan waiver/debt relief certificate.
- 8-10 per cent Union finance ministry says one in ten of the intended 3.45 crore eligible farmers, approximately 34.5 lakh, did not get to avail of the loan waiver
- 7 per cent On top of the 34.5 lakh farmers, another 24 lakh people benefited under the loan waiver scheme by claiming to be victims of financial burden.
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