Mumbai: Faced with criticism by the Opposition and farmers’ organisations of its farm loan waiver scheme, Chief Minister Devendra Fadnavis on Sunday said a plan is being considered to provide loans at lower rates to farmers. Presently, farmers are provided loans at 0% interest up to one lakh and at 2% for loans between one and three lakhs.
Speaking during his television programme Mi Mukhyamantri Boltoy, Mr. Fadnavis sought to counter criticism for the government waiving off loans till June 30, 2016 only. “A drought year is considered as criteria for waiving off loans. The years 2012 to 2015 were drought years, so outstanding loans up to June 30, 2016 were included in the waiver. The deadline for repaying loans over ₹1.5 lakh was June 30, 2017 for those who have been repaying regularly, which has been extended for one month.”
He said farmers can avail fresh loans after being dropped from the of defaulters, and loans will be available according to the rules for different crops. Currently, loans as per fixed parameters are ₹30,000 per acre for tur dal, ₹40,000 for soybean and cotton crops, ₹45,000 for rice, ₹70,000 for orange and mosambi (sweet lime), ₹90,000 for sugarcane, ₹1.1 lakh for pomegranate and ₹1.2 lakh for banana. “The government is planning on more discounts.”
The government also intends to bestow more benefits under various government schemes in addition to subsidy as encouragement under the scheme, Mr. Fadnavis said. He added that those with a turnover of above ₹10 lakh have been excluded from the loan waiver scheme as they had other businesses. “Loan waivers will be extended only to those depending 100% on agriculture.”