Yogi waives loans of UP farmers

Yogi waives loans of UP farmers

The Uttar Pradesh government on Tuesday waived off crop loans up to Rs 1 lakh of small and marginal farmers. The decision, taken at the first Cabinet meeting of the new BJP government, will cost the exchequer over Rs 30,000 crore.

Speaking to reporters after the meeting, government spokesperson Siddharth Nath Singh said that loans taken by around 7 lakh farmers from different banks, which are now NPAs (non-performing assets), would also be waived off. This would cost the exchequer an additional Rs 5,630 crore.

Singh said around 2.15 crore small and marginal farmers would benefit from the loan waiver. “It will be a huge relief to the farmers who suffered because of the floods and droughts”, he added.

Singh said the waiver was confined only to loans taken for purchasing seeds, fertilisers, insecticides and other similar purposes. Singh said there were around 2.30 crore farmers in the state.  The state government will issue a Kisan Relief Bond to raise money for this purpose. “The Centre is not providing any money...We have to arrange it ourselves,” he said. Singh said waving off crop loans was part of the BJP’s election manifesto.

Varanasi projects to get top priority

Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday set a deadline to complete development projects in Prime Minister Narendra Modi’s Lok Sabha constituency of Varanasi, reports DHNS. Adityanath reviewed the ongoing projects and said he will visit Varanasi next month.

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