IN OVERDRIVE, OFFICIALS COLLECT DATA ON FARMERS’ LOAN

Ahead of the formation of new government in the state, the officials are in an overdrive to complete rudimentary homework on farm loan waiver proposed by the BJP in its election manifesto.

The Bharatiya Janata Party (BJP) had promised relief by writing off the loans of small and marginal farmers and facilitating fresh loans at cheaper rate of interest.

Prime Minister Narendra Modi had been repeatedly saying in his election rallies that the new government would clear the proposal of farm loan waiver in its first cabinet meeting.

Keeping this in view, the officials of the departments concerned want to be ready with the basic data by the time the new government takes over.

“We have asked the officials as well as the state-level bankers’ committee (SLBC) to gather basic statistics to be presented to the new government so that it may take the decision on loan waiver accordingly,” director, institutional finance, Shiv Singh Yadav told HT.

Sources said the total agricultural outstanding loan in UP against nearly 2 crore farmers stood at Rs 1.25 lakh crore as on December 2016.

“Much will depend on the criteria that the new government adopts for loan waiver, like lower or upper limit of the loan amount to be waived and the period to be covered,” they said.

There are 2.33 crore agricultural families and around 2 crore are indebted to one bank or the other.

More than 80% of them are small and medium farmers.

The Congress-led UPA government had also announced farm loan waiver in 2008-2009. The state received an amount of Rs 9,000 crore for loan waiver of farmers against whom the outstanding amount was below Rs 50,000.

“Let us see what terms and conditions are laid down this time but we want to be ready with the basic data by then,” said an official in agriculture department.

THERE ARE 2.33 CRORE AGRICULTURAL FAMILIES AND AROUND 2 CRORE ARE INDEBTED TO ONE BANK OR THE OTHER.