Lately, times have been rough for everyone, due to the after-effects of the pandemic. Farmers have not been able to sell off their products, because consumerism has plunged and how! The consumers cannot be blamed either as purchasing powers have reduced as well, hence the amount of consumption has now come to only buying what and how much is deemed necessary.
Farmers have witnessed a massive slash in profit margins this year which pushes them back into exorbitant debts and thereby adds on to their debts, making their lives all the more miserable.
What is the scheme all about?
Under this scheme, farmers in Madhya Pradesh who have taken loans from banks will get to waivers on their loans. These waivers will be provided to farmers who have taken loans from Government banks.
To add to it, the loans of up to ₹2 lakhs sanctioned under MP Kisan Karj Maafi Yojana will be waived off.
Key features of the scheme
- Loans of up to ₹2 lakhs to all eligible farmers will be waived off under the MP Karj Mafi Yojana 2020
- The eligible farmers under the government scheme will get an incentive of ₹25,000 as well
- The benefit offered by the scheme will be given to all small and marginal farmers of Madhya Pradesh
In order to gather more information about the scheme and to enroll yourself in the scheme, if you are a farmer in Madhya Pradesh, you can explore the website, to know more: click here.