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Govt working on logistics for farm loan waiver of 50 lakh farmers in Rajasthan

Sources informed that chief minister Ashok Gehlot conducted meeting with chief secretary DB Gupta and senior IAS officer Kuldeep Ranka on this issue at his official residence, 8 Civil Lines, on Tuesday morning.

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There are 50 lakh farmers who have taken loan in state
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State government has started building the roadmap for farm loan waiver in the state. 

However, unlike Madhya Pradesh where it was done instantly after the new chief minister took oath, here in Rajasthan, the state government is working extensively on this front and has also involved department of cooperatives for this. 

Other departments like department of finance has also sought information from department of cooperatives regarding the farm loan waiver and the farmers who will be benefit from this.

Sources informed that chief minister Ashok Gehlot conducted meeting with chief secretary DB Gupta and senior IAS officer Kuldeep Ranka on this issue at his official residence, 8 Civil Lines, on Tuesday morning.

Thereafter during the day, sources inform that the finance department also sought information from department of cooperatives about the actual position of farm loan and the number of farmers.

Meanwhile the department of cooperatives has already started the process of getting the details of number of farmers and the amount of loan taken by them from cooperative banks while the commercial and PSU banks have also provided some information on this to the department of finance.

Sources inform that currently in the state there are about 50 lakh farmers who have taken loan. 

This loan is to the tune of about Rs90,000 crore of which about Rs 70,000 crore is short term loan. This loan has been taken from various categories of banks in the state.  The BJP government had given farm loan waiver of amount upto Rs 50,000 to the farmers after the budget this year. 

The budget amount was Rs 8000 crore and out of this, loan of about Rs 5000 crore from NCDC (National Co-operative Development Corporation) was taken after state government gave a guarantee. 

This time also depending on the financial burden of various categories of banks, the government may take guarantee.

The department of finance is currently waiting for the plan from the department of agriculture as this will be the nodal department. Sources inform that while announcement may be made in coming days regarding loan waiver however, the banks may be given relief after the budget announcement only.

The officials in the state have also sought information from their counterparts in Madhya Pradesh in this regard.

Fact File

  • On November 26 at an election rally in Pokhran, Congress president Rahul Gandhi had promised farm loan waiver within ten days if his party formed government in state.
  • The previous Vasundhara Raje government had applied for finance from National Cooperative Development Corporation after Raje announced farm loan waiver scheme for small and marginal farmers till amount Rs 50,000. 
  • Gehlot government will have to take a look at the financial position of the state’s finances too while implementing this scheme.
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