During the electoral campaign for the 2017 UP Assembly elections, both PM Modi and BJP President Amit Shah had promised loan waiver for farmers if the party wins.
So, when Yogi Adityanath assumed office as the chief minister on March 19, the overjoyed farmers waited with baited breath for their dreams to turn into reality soon.
Yogi Adityanath government's first cabinet meet is slated for today evening and it remains to be seen if the Uttar Pradesh BJP government delivers on its promise.
AGRA FARMERS EYE LOAN RELIEF
If the loan waiver is cleared today, then about Rs 1800 crore would be waived off for Agra farmers who are in debt of over Rs 7000 crore.
A total of 425 branches of 27 public sector banks had distributed loans to as many as 82,000 farmers in Agra. In the past financial year alone, the banks distributed Rs 1753 crore under agricultural loans out of which Rs 350 crore were marked as Non Performing Assets (NPAs).
FARMERS STOPPED PAYING INTEREST AT THE MENTION OF WAIVER
Mohammed Ansar, a farmer from Shamshabad area of Agra said, "Farmers had stopped paying installments of the loans ever since all the political parties promised loan waiver in October last year when the electoral campaigns started."
He further said that a farmer gets two years time to repay a crop loan and if he in unable to pay, it is classified as an NPA.
Continuous installments attract 3 per cent subsidy on interest from the government but it being an electoral year, many farmers stopped paying their loan installments and having defaulted, also lost this subsidy.
Lead bank manager Pankaj Saxena told India Today,"All banks have been asked to submit their agricultural loan details to the government and most of them have already submitted the details."