Delivering on BJP's promise to small and marginal farmers, the Yogi Adityanath cabinet decided to waive their crop loans up to Rs 1 lakh, totalling a staggering Rs 36,359 crore, at its very first cabinet meeting.
The move will benefit over 2.15 crore farmers, along with 7 lakh others who had secured loans which turned into non-performing assets (NPAs).
The Yogi Adityanath cabinet decided to float Kisan Rahat Bonds for raising Rs 36,359 crore required for waiving loans of small and marginal farmers who form 92.5 percent of the total 2.30 lakh farmers in the state.
The decision comes a fortnight after Adityanath took over the reins of the state on 19 March after BJP and its allies came to power in the 403-member Assembly, capturing 325 seats, an over three-fourth majority.
The loan waiver promise was made by Prime Minister Narendra Modi and state party president Keshav Prasad Maurya and it is the duty of the government to fulfil the promise made in BJP's 'sankalp patra' (manifesto). The Yogi government was moving ahead in this direction, the two ministers said.
(With inputs from PTI)
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