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Home Haryana

Haryana Budget: CM Khattar announces interest waiver on crop loans

by Suresh Kumar
February 23, 2024
Reading Time: 2 mins read

During a period when farmers are protesting for a minimum support price (MSP) for their crops, Haryana Chief Minister Manohar Lal Khattar made an attempt to appeal to the farming community by announcing a waiver of interest and penalty on crop loans for farmers who pay the principal amount by May 31. This initiative was presented during the budget announcement for 2024-25 in the Assembly.

CM Khattar specified that this offer would only apply to farmers registered on the Meri Fasal Mera Byora (MFMB) portal who had taken crop loans up to September 30, 2023, through Primary Agriculture Credit Society (PACS). He highlighted that around 10 lakh farmers provide their crop details on the MFMB portal each season.

In the upcoming financial year, Haryana has allocated almost Rs 7,571 crore for the agriculture and allied sectors, reflecting a 38.9% increase compared to the revised estimates of Rs 5,449 crore for the current financial year. The Chief Minister also addressed the issue of MSP, mentioning that the government has procured 14 crops at MSP over the last three years, ensuring direct payments to farmers’ accounts.

CM Khattar emphasized the support provided to farmers in Haryana, including procurement, price support, and compensation for damage to their produce. Additionally, he mentioned the payments made directly into farmers’ accounts during kharif and rabi 2023, totaling Rs 29,876 crore. The government also distributed Rs 178 crore directly to farmers’ accounts under a scheme.

The CM highlighted the Bhavantar Bharpai Scheme, initially implemented for four vegetable crops and later expanded to cover 21 vegetables and fruits. This scheme aims to address price fluctuations for key vegetables and has provided incentives to farmers. However, some farmer leaders, like Gurnam Singh Chaduni, are advocating for MSP for all crops, expressing dissatisfaction with the current Bhavantar scheme.

Meanwhile, a committee of Congress leaders led by former Haryana Chief Minister Bupinder Singh Hooda proposed a legal guarantee of MSP for crops and a loan waiver for farmers during the party’s Raipur convention in 2023. The committee suggested providing MSP under the C2 formula of the Swaminathan Commission and working towards complete debt relief for farmers.

In his address to the Assembly, CM Khattar highlighted the government’s efforts to benefit farmers, resulting in an 8.1% growth in agricultural production in 2023-24, one of the highest in the country.

Source

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