ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • E: Independence Day 2022 - PM Modi Speech From Red Fort - Watch Streaming | KNOW TOP POINTS, IMPORTANT QUOTES
  • FIIs buy shares worth Rs 3,040 cr on August 12, highest this month; net purchase at Rs 14,841.66 crore
  • Independence Day Special: How investment habits, preferences of people have changed over the past 75 years
  • Money Guru: As India gears up for 75th Independence Day celebration, where should you invest for benefit in New India? Expert de
  • 31 new malls coming soon in India: Set to spawn massive jobs, employment opportunities
Read in App
Business News » India News

What is Jai Kisan Rin Mukti Yojana? MP CM Kamal Nath launches Rs 50,000 cr farm loan waiver scheme

Before the Assembly elections in November last year, Congress president Rahul Gandhi had promised that if his party was voted to power, it would implement farmers' loan waiver within 10 days of government formation.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
What is Jai Kisan Rin Mukti Yojana? MP CM Kamal Nath launches Rs 50,000 cr farm loan waiver scheme
"The Madhya Pradesh economy has been agriculture- based. About 70 per cent people are associated with agriculture and allied sectors. Reuters

Madhya Pradesh Chief Minister Kamal Nath Tuesday launched his government's Rs 50,000-crore farm debt-waiver scheme named 'Jai Kisan Rin Mukti Yojana'.Hailing the scheme as a milestone, Nath said here it would benefit 55 lakh small and marginal farmers. He also slammed the opposition parties for alleging that the scheme was being implemented without any budgetary provisions.

Before the Assembly elections in November last year, Congress president Rahul Gandhi had promised that if his party was voted to power, it would implement farmers' loan waiver within 10 days of government formation.

The state cabinet on January 5 gave its nod to waive crop loans of 55 lakh farmers while extending the eligibility cut-off date to December 12, 2018, from March 31, 2018.

"The Madhya Pradesh economy has been agriculture- based. About 70 percent people are associated with agriculture and allied sectors.

Hence, this loan waiver is an investment in the economy, which can't be strengthened without farmers," Nath said at the launch event.

"This decision is a milestone in the state's economy.

It will benefit 55 lakh small and marginal farmers and cost the state exchequer Rs 50,000 crore," he said.

There are three forms of different colors to be filled by farmers, he said adding, "But the BJP will target the government even on this issue.

They have alleged that the loan waiver was announced without any budgetary provision." 

"They (opposition) don't need to teach me...They are luring (the Congress MLAs)...and continue to do this. But I trust their (Congress MLAs) loyalty...I will not say more, but the BJP needs to keep its own house in order," he said.

Nath said his government would give the report card of the work to be done in the next five years.

"We are saying that Modi ji (Prime Minister Narendra Modi) should also give the central government's report card," he said.

On how the state government plans to arrange funds for the farm loan waiver scheme considering the economic condition of the state, Nath said, "We had studied before making the loan waiver announcement.

I have talked to the banks. The BJP itself has accepted that they have left a debt-ridden state behind." 

Watch This Zee Business Twitter Video

#JetAirways पर सटीक रही बिकवाली की राय, ख़बर पर ऐसी पकड़ और कहां सिर्फ #ZeeBusiness पर। @AnilSinghviZEE @deepaliranaa @dkalra81 pic.twitter.com/v4ECBwJHu2

— Zee Business (@ZeeBusiness) January 16, 2019

Farmers who have registered themselves to pay GST and are paying income tax, cannot avail benefits under this scheme, he said.

Asked if the 'Bhavantar Yojana' launched by the Shivraj Singh Chouhan government would continue, Nath said, "We are studying the scheme and will present it in a new form after removing its shortcomings."

 Nath symbolically received the loan waiver forms of some farmers from around Bhopal. The loan waiver forms could be submitted till February 5 and farmers would start getting the benefits from February 22.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
farm loan waiverMadhya Pradesh
Written By: PTI
Updated: Wed, Jan 16, 2019
01:39 pm
Bhopal, PTI
RELATED NEWS
Farm loan waivers kill credit culture, says former RBI Governor Raghuram Rajan Farm loan waivers kill credit culture, says former RBI Governor Raghuram Rajan
Congress to offer comprehensive farm loan waiver, may cost Rs 2 lakh crore Congress to offer comprehensive farm loan waiver, may cost Rs 2 lakh crore
 Aadhaar enrollment boosts MGNREGA, cuts delayed payments to low of Rs 67,956 cr in FY18 Aadhaar enrollment boosts MGNREGA, cuts delayed payments to low of Rs 67,956 cr in FY18
Poll-bound Rajasthan announces farm loan waiver, tax relief in 2018 budget Poll-bound Rajasthan announces farm loan waiver, tax relief in 2018 budget
Will MSP hike in Budget FY19 be inflationary? Will MSP hike in Budget FY19 be inflationary?

LATEST NEWS

Stock market holiday today: NSE, BSE to stay close on Independence Day; settlement holiday tomorrow

Rakesh Jhunjhunwala Akasa Airline: What will happen to India's newest airline - founded by Big Bull?

Delhi Metro timings on 15 August 2022, Independence Day: Check schedule, routes and parking advisory

Microsoft Office to support Apple Pencil's handwriting-to-text feature

JEE Advanced test 2022 on August 28 for admission to 23 IITs

HDFC-HDFC Bank merger gets CCI approval: What next?

Happy Independence Day 2022: How to download, send WhatsApp GIFs, Stickers, Status and more

Delhi Traffic Police Advisory for Independence Day: 15 August - Roads to avoid today, timing of closure – full details here

Made in India toys: Manufacturers scale up production capacity amid rise in demand; eyes global markets

Mahindra to unveil electric SUVs on Independence Day 2022; Check when and where to watch live event

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV