Farmers whose loan exceeds Rs 2 lakh will be ineligible for loan waiver scheme: Maha govt

Farmers whose crop loan and restructured loan exceeds Rs two lakh will be ineligible for the Mahatama Jyotirao Phule Farmer Loan Waiver Scheme, Shivsena-led Maha Vikas Aghadi government said in a Government Resolution (GR) here on Saturday.

"Under Mahatama Jyotirao Phule Farmer Loan Waiver Scheme, farmers whose crop loan and restructured loan is more than Rs two lakh will not be eligible for any benefit," the government said in its resolution.

It added, "Loans up to Rs two lakh taken between April 1, 2015, and March 31, 2019, and which has not been repaid till September 30, 2019, will be given the benefit of the scheme."

The government also said that a state-level committee will be formed which will have members from the Finance Department, Co-operation Department, Planning Department and the representative of NABARD, nationalised banks and the Reserve Bank of India (RBI) to implement the scheme.

According to the scheme, loans taken from nationalised, district, co-operative banks, and co-operative societies along with other business banks will be considered.

In their Common Minimum programme, the Shiv Sena, Congress, and NCP coalition government had promised a complete loan waiver to Maharashtra farmers. However, the current decision to waive loan up to two lakh is under severe criticism from the opposition.