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CM Fadnavis lights loan waiver cracker before Diwali

The state government in July had announced a ₹34,000 crore loan waiver scheme. Through the loan waiver, the government has proposed to entirely takeover the outstanding loans of more than 30 lakh farmers.

pune Updated: Sep 10, 2017 23:50 IST
Yogesh Joshi
Yogesh Joshi
Hindustan Times, Pune
CM,chief minister,devendra fadnavis
(From left) Finance minister Arun Jaitley, MP Supriya Sule, CM Devendra Fadnavis and Sharad Pawar at the PDCC programme at agriculture College ground on Sunday in Pune.(HT PHOTO)

Maharashtra chief minister Devendra Fadnavis on Sunday said that the farmers will get the loan waiver relief from October. Speaking at the golden jubilee celebrations of the Pune District Central Cooperative (PDCC) Bank, Fadnavis said that while the scrutiny of applications submitted by farmers will begin from September 15, their loans will be cleared in October.

“I assure you that from September 15, we will start the scrutiny of the applications. Once it is done, money will be deposited in loan accounts of farmers by October before Diwali,” said Fadnavis.

According to the chief minister, the government has till now received around 80 lakh applications from the famers seeking loan waiver. “After the scrutiny of the applications, loans of eligible farmers will be waived,” he said.

There were around 44 lakh farmers in the state who were not qualified for institutional lending. The government decided to repay their loan so that they can once again make them credit worthy. The chief minister said the that government will provide some relief to those repaying their loan on a regular basis.

The state government in July had announced ₹34,000 crore loan waiver scheme. Under the scheme, farmers were for the first time asked to submit their applications online. Through the loan waiver, the government has proposed to entirely takeover the outstanding of more than 30 lakh farmers.

Commenting on the criticism faced by the online form submission process, Fadnavis said that the intention has been to prevent others who are not qualified for the programme from taking benefit of the loan waiver scheme. “There has been some criticism of the online process. Last time, when the scheme was rolled out without online submissions, we saw many people taking advantage of it even when they were not qualified for the loan waiver. This time, we have decided to provide benefit of loan waiver to deserving candidates,” said the chief minister.

The chief minister said that the government will firmly stand behind those cooperative institutes which are maintaining the financial discipline and are doing good work. “We have taken a firm stand against those institutions involved in corruption. The government will firmly back cooperative institutions which are non-corrupt and are doing good work,” he said.

First Published: Sep 10, 2017 23:36 IST