Jharkhand Krishi Rin Mafi Yojana | 27 Jan 2024

Why in News?

The Jharkhand government has launched a Jharkhand Krishi Rin Mafi Yojana to reduce the loan burden of farmers. Under this scheme, the loans of those farmers who are unable to repay their loans are being waived.

  • Under the scheme, the state government will waive loans up to Rs. 50,000 per farmer.

Key Points

  • The scheme was launched on 1st February, 2021.
  • The objective of this scheme is to provide relief from the loan burden to short-term loan-holding farmers of Jharkhand.
  • The aim is to improve the loan eligibility of crop loan holders, ensure the availability of new crop loans, stop the migration of the farming community, and strengthen the agricultural economy.
  • Eligible Beneficiaries:
    • Must be a permanent resident of Jharkhand state.
    • The small and marginal farmers who have taken the loan using the Kisan Credit Card (KCC).
    • Must be a farmer who self cultivates his / her land or farmers who cultivate in leased land.
    • Must be at-least 18 years of age.
    • Only 1 farmer per family is allowed for loan waiver.
    • The loan must have been availed from banks before 31 March 2020.

Kisan Credit Card (KCC) Scheme

  • About:
    • The KCC scheme was introduced in 1998 to provide timely credit support to farmers.
    • It offers credit for cultivation, purchase of agriculture inputs, and other needs.
    • The scheme was extended to cover the investment credit requirement of farmers in 2004.
    • In 2018-19, the facility was extended to fisheries and animal husbandry farmers.
  • Objectives:
    • The scheme aims to meet the short-term credit requirements of farmers for crop cultivation, post-harvest expenses, produce marketing loan, consumption requirements, and working capital for maintenance of farm assets.
    • It also provides investment credit for agriculture and allied activities.