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New Delhi: The Uttar Pradesh government has decided to waive off farm loans of up to Rs 1 lakh for farmers across 19 districts in the state. A notification in this regard has also been issued, reported Dainik Jagran, adding that 33,408 farmers in the state will be benefitted from this move.
This is not the first time, the UP government has decided to waive off farm loans. In 2017, following up on its pre-election promise, the Uttar Pradesh government had waived off crop loans worth Rs7,371 crore in the first phase. In the first phase, loans of 1,193,224 small and marginal farmers was waived. For the unversed, farm loan waiver was one of the biggest pre-poll promises that the Bharatiya Janata Party had made to the electorate of Uttar Pradesh in 2017.
A recent study by State Bank of India’s researchers showed that only about half of the intended beneficiaries of farm loan waivers announced by nine States since 2014, have actually received debt write-offs.
As of March 2022, the poorest implementation of farm loan waiver schemes in terms of proportion of eligible farmers who had received the announced benefits, were in Telangana (5%), Madhya Pradesh (12%), Jharkhand (13%), Punjab (24%), Karnataka (38%) and Uttar Pradesh (52%), reported The Hindu.
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