As
promised in election manifesto, the BJP government, in its first cabinet
meeting waived crop loan of around 86 lakh small and marginal farmers of the
state, incurring a total expenditure of over Rs.36,000 crore. In another
farmer-friendly decision, the Yogi government also decided to set up 5,000
wheat purchasing centres across UP.
Announcing
the decision after 90-minute meeting, Cabinet Minister Siddharth Nath Singh
said that loans up to Rs.1 lakh taken by small and marginal farmers, with land
holding of less than 5 acre -till March 31, 2016 would be waived.
Additionally,
the cabinet also decided to give the benefit of one-time settlement to 7 lakh
farmers whose old loans had been declared non-performing assets by the banks.
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