Jharkhand Agriculture Loan Waiver Scheme | 28 Apr 2022

Why In News?

• Recently, Jharkhand Agriculture Director Nisha Oraon informed that the state government is waiving loans worth Rs 3.34 crore benefiting 906 farmers per day under the 'Jharkhand Agricultural Loan Waiver Scheme'.

Key Point

• The objective of the scheme is to relieve the farmers of the State of short-term agricultural credit from the debt burden, improve the credit worthiness of the crop loan holder, ensure credit for the new crop, prevent migration of the farming community and strengthen the agricultural economy.
• Under the scheme, loans worth Rs 1,529.01 crore have been waived off to 3,83,102 farmers till March 31, 2022, of which a total of Rs 494.96 crore was disbursed to 1,22,238 people in the financial year 2020-21. In the financial year 2021-22, 2,60,864 farmers have been paid Rs 1,034.05 crore.
• The following are the required entitlements for the beneficiary of the loan waiver scheme:
  • The ryot farmers who do their own farming on their land.
  • Non-ryot farmers who do agricultural work on the land of other ryots.
  • The applicant should be a short-term crop loan holder and the crop loan should be issued from a qualified bank located in Jharkhand.
  • A farmer from the State of Jharkhand, who is above the age of 18 years and the farmer should have a valid Aadhaar number, Kisan Credit Card holder and a valid ration card holder.
  • Members holding the same crop loan from one family will be eligible. The applicant should have a standard crop loan account.