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Cabinet approves interest remission scheme for farmers

The meeting, which lasted for more than three and half hours, also discussed government strategy for the ongoing monsoon session of parliament, which began on Tuesday.

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Union Cabinet, which met on Tuesday under the chair of Prime Minister Narendra Modi has approved a scheme of interest remission for farmers, who don't default and pay back money to respective banks at the end of the season. Though, due to Parliament session, nobody came on record on the cabinet decisions, sources said that if a farmers returns an amount of Rs 3 lakh and above to the bank in the same year, after he sells his produce, he will be charged just 1% interest instead of normal 7%.

The meeting, which lasted for more than three and half hours, also discussed government strategy for the ongoing monsoon session of parliament, which began on Tuesday. Sources without elaborating said various suggestions and issues were discussed in the wake of opposition change of tactics and blatantly stalling the debate. On Monday, at a meeting conducted by the BJP president Amit Shah, it was decided not to oppose Opposition's motion of suspension of normal business in Rajya Sabha and allow a debate on the issue of external affairs minister Sushma Swaraj helping former IPL commissioner Lalit Modi. But the Opposition since then has changed strategy and now wants resignation of Swaraj alongwith Rajasthan and Madhya Pradesh chief minister, before allowing any discussion and transaction of business.

Sources also said the fate of controversial land acquisition bill also came up under discussion in the wake of widespread opposition to the amendments as proposed by the Modi government and promulgated through an ordinance third time. Earlier, Speaker Sumitra Mahajan gave fresh extension to the Joint Committee of Parliament examining the bill till the first week of August to submit its report. This is the second extension sought by the Committee. It was originally mandated to table its report tomorrow — on the first day of the Monsoon session. The panel had earlier sought extension till July 27 to submit its report.

Three secretaries who were summoned before the panel on July 16 to explain various issues had failed to turn up citing different reasons. Indications are that the panel is unlikely to come out with its report during the Monsoon Session and could seek further extension, making it necessary for the government to re-promulgate the ordinance once again. An ordinance, which has a life span of six months, has to be re-promulgated if it does not get the endorsement of Parliament within six weeks of the start of a session. The committee has received some 600 memoranda, in addition to 60 persons from different walks of life turning up to give verbal presentations. A majority of them have opposed the amendments proposed by the government and want restoration of 2013 Act.

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