The Yogi Adiyanath led Government in Uttar Pradesh on Tuesday April 04,2017 approved waiver of farm loans up to Rs 1 lakh, fulfilling a major election promise made by the Bharatiya Janata Party (BJP).
According to state government sources, the decision will benefit 2.25 crore farmers and is likely to cost the state exchequer Rs 36,000 crore.
According to government data, 2.15 crore of the 2.30 crore farmers in UP are in the 'small and marginal' category. Most of these farmers were unable to repay loans worth Rs 62,000 crore after crop losses due to natural calamities.
During the election campaign, Prime Minister Narendra Modi had promised that writing off farm loans would be among the foremost task of the BJP government in Uttar Pradesh
According to state government sources, the decision will benefit 2.25 crore farmers and is likely to cost the state exchequer Rs 36,000 crore.
According to government data, 2.15 crore of the 2.30 crore farmers in UP are in the 'small and marginal' category. Most of these farmers were unable to repay loans worth Rs 62,000 crore after crop losses due to natural calamities.
During the election campaign, Prime Minister Narendra Modi had promised that writing off farm loans would be among the foremost task of the BJP government in Uttar Pradesh
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