BHOPAL: Ahead of the upcoming elections, the MP govt has decided to waive off the interest accrued on farm loans of cultivators. Under Byaaj Maafi Yojana, Rs 2,415 crore will be waived off.
The draft for the loan waiver policy prepared by the Co-operative department will be tabled at a cabinet meeting for approval, said Minister Arvind Singh Bhadauria.
Farmers who had availed loans from the primary agricultural credit co-operative societies would be eligible for the waive-off, said a source involved in the matter.
Earlier in 2019, the Congress govt had implemented a loan waiver scheme of up to Rs 2 lakh for farmers. Shortly after the scheme was put into effect, the Congress govt collapsed leading to the disqualification of the scheme