Rajasthan govt to give guarantee for Rs 5,000cr NCDC loan for farm waiver

The Rajasthan government today approved a proposal to give bank guarantee for taking Rs 5,000 loan from National Cooperative Development Corporation (NCDC) for funding the state government's crop loan waiver scheme.

The cabinet has decided to extend farm loan waiver camps till August 15 from earlier deadline of June 30.

The state government approved a proposal to give bank guarantee to take loan of Rs 5,000 crore from NCDC for working capital at 8.5 per cent interest rate for 270 days for crop loan waiver scheme of the state government, state parliamentary affairs minister Rajendra Rathore told reporters after state cabinet meeting.

Rathore said that 4,361 camps were organised till June 30 in which 16.56 lakh farmers were provided loan waiver certificates worth Rs 5,077 crore.

He said that a nine-member committee has been constituted under additional chief secretary to look into loan waiver related cases at state level and under district collectors at district level.

The Vasundhara Raje-led BJP government in Budget 2018-19 had announced loan waiver of up to Rs 50,000 with a sum of Rs 8,500 crore to nearly 29.21 lakh small and marginalised farmers.

With an eye on promoting industrial investment in the state, the cabinet decided to provide customised packages to 13 industrial units worth Rs 6,000 crore investments under Rajasthan Investment Promotion Scheme 2014.

"All these units would be given different customized packages of rebate and subsidies. Additional benefits would also be extended to the investors putting in funds in the backward regions," Rathore said.

Major investment proposals include those for the sectors such as cement, mining, textiles, agro processing, plastic manufacturing, BPO, distillery and beverages, auto parts etc, he added.

The biggest of the projects approved include a yarn spinning project by Shree Vallabh Pitti Group which would invest Rs 2,000 crore at Eklera in Jhalawar, a cement plant by Wonder Cement to invest Rs 800 crore at Nimbahera in Chittorgarh and cement manufacturing units by Bangur Cement with investment worth Rs. 1013 crore at Jaitaran in Pali and Udasar in Sri Ganganagar districts.

The minister said that the Cabinet accepted the recommendations of the Shetty Commission for payment of salaries to the ministerial staff of the subordinate courts in Rajasthan.

As per the decision, these employees would now get the benefits pay revision and arrears as per the Commission's recommendations. Also, relaxation in the two-child policy was extended for the state government employees by deletion the clause of compulsory retirement on birth of third child.