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Yogi Adityanath cabinet waives off farm loans up to Rs 1 lakh in Uttar Pradesh

LiveMint logoLiveMint 04-04-2017 Livemint

New Delhi: In a major relief to farmers in Uttar Pradesh, the Yogi Adityanath cabinet has decided to waive off loans of up to Rs1 lakh.

The decision will reportedly add Rs36,000 crore to the state’s fiscal burden and directly benefit 86 lakh farmers. Uttar Pradesh has 2.15 crore farmers.

The Bharatiya Janata Party had promise din its election manifesto to waive off the loans of small and marginal farmers. Prime Minister Narendra Modi too had promised a farm loan waiver in his campaign speeches, particularly during the last two phases of elections in eastern Uttar Pradesh.

Tuesday’s cabinet meeting was the first for the Yogi Adityanath government after it was sworn-in on 19 March.

Farmers have been demanding a loan write-off due to losses in production from natural calamities and a bad monsoon.

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