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Yogi Adityanath Cabinet waives off crop loans worth Rs 36,000 crore

UP to float Farmers' Relief Bond for composite waiver amount; decision to benefit 21.5 mn farmers

Virendra Singh Rawat Archis Mohan & Sanjeeb Mukherjee  |  Lucknow/ New Delhi 

Within a fortnight of taking office, the Yogi Adityanath-led Bharatiya Janata Party (BJP) government in Uttar Pradesh (UP) on Tuesday fulfilled its key poll promise, writing off crop loans of up to Rs 1 lakh for about 21.5 million small and marginal farmers. The total waiver will be of Rs 36,359 crore — one of the highest-ever promised by a state.  Of this, Rs 5,630 crore of NPAs, or non-performing assets, of 700,000 farmers will be immediately waived. This would not only enable these farmers to seek new loans, but also clean up the account ...

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First Published: Wed, April 05 2017. 09:13 IST
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