UP Farm Loan waver

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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