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Good News for Farmers, Jharkhand Government Announces Waiver of Farm Loans


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Jharkhand Agriculture Minister, Badal Patralekh, announced on Friday that the state government has made the decision to waive farm loans up to ₹2 lakh. This initiative aims to provide relief to more than 1.91 lakh farmers in the state. During a meeting with officials from the State Level Bankers’ Committee (SLBC) in Ranchi, the minister requested the banks to submit a proposal regarding this matter.

Loan Waiver Details

Minister Patralekh specified that loans ranging from ₹50,000 to ₹2 lakh, obtained by farmers until March 31, 2020, will be waived through a one-time settlement. This announcement follows the state government’s previous initiative in 2021-22, where they waived crop loans up to ₹50,000.

Impact on Farmers

The state government has already fulfilled its promise by waiving loans up to ₹50,000 for over 4.73 lakh farmers. This has resulted in the Jharkhand government allocating an amount exceeding ₹1,900 crore to the banks. Minister Patralekh emphasized the importance of relieving farmers from debt and urged bank officials to propose the closure of non-performing asset (NPA) accounts to achieve this goal.

This initiative by the Jharkhand government aims to support farmers and alleviate their financial burdens, ultimately contributing to the betterment of the agricultural sector in the state.

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