Saturday, 15 December, 2018

'Misconceptions' Due To My Saffron-Clad Look, Says CM Yogi Adityanath

Hindustan Times via Getty Images Hindustan Times via Getty Images
Nellie Chapman | 09 April, 2017, 02:02

The decision will benefit almost 2 crore 15 lakh farmers across the state.

Speaking to reporters after the meeting, government spokesperson Siddharth Nath Singh said that loans taken by around 7 lakh farmers from different banks, which are now NPAs (non-performing assets), would also be waived off.

A senior bank official criticised Yogi Adityanath's decision and said it will increase the practice of farmers defaulting on their loan in the hope that the government will waive their loans. Maharashtra has already taken a lead by deciding to study the UP farm loan waiver model.

The government also said all farmers having up to five acres of land will be counted as small farmers while those with 2.5 acres will be categorized as marginalised farmers.

The Adityanath government in Uttar Pradesh has waived off loans worth Rs 30,729 crores ( $5.6 billion) for small and marginal farmers, reports said. The scheme will benefit 86,000 small and marginalised farmers, Uttar Pradesh government claims. They had suffered losses due to natural calamities in the recent past and were unable to repay loans amounting to about Rs 62,000 crore. It has also chose to forego non-performing assets worth Rs 5,630 crore of eight lakh farmers.

Cabinet meetings can be held anywhere, it is not mandatory to hold them in Lucknow, Deputy Chief Minister Dinesh Sharma told NDTV.

Announcing the government's decision, Adityanath also revealed that under his leadership at least six All India Institute of Medical Sciences (AIIMS) like institutes will be built in Uttar Pradesh. "We stand with this government for the people", she added. "On the first day of the Cabinet meeting the courage he took to waive off the farmer's loan, I think others too should follow Adityanath's footsteps". The sword of term loan will keep hanging for a farmer. Finance Minister Arun Jaitely later clarified in Rajya Sabha that the Centre would not offer any financial grant to the UP government for farm loan waiver.

Criticism apart, it is expected that the demand for farm loan waiver would soon start coming from other states as well.