Yogi waives off farm loans worth over 36,000 crore in UP

RSTV Bureau
Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath addressing a press conference, March 20, 2017.  Photo - PTI

Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath addressing a press conference, March 20, 2017.
Photo – PTI

Keeping BJP’s poll promise to small and marginal farmers, the Yogi Adityanath government today approved waiver of loans of over 2.15 crore farmers totalling Rs 36,359 crore.

The first cabinet meeting presided over by Chief Minister Yogi Adityanath 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 per cent of the total 2.30 lakh farmers in the state.

Briefing mediapersons after a 90-minute meeting of the cabinet, senior minister Siddharth Nath Singh and Srikant Sharma said Rs 30,729 crore was required for waiving loans of small and marginal farmers.

Besides, there were about 7 lakh other farmers who had taken loans which turned into non-performing assets ((NPAs).

In order to bring them back into the mainstream, their outstanding dues of Rs 5,630 crore have also been written off.