Farmers Loan

Breaking News – During the first Cabinet meeting of the new Uttar Pradesh government today, CM Yogi Adityanath waived farmers’ loan of up to Rs1 lakh. The state will spend around Rs36,000 crore to fund the loan waiver which will benefit around 86 lakh farmers. Loan waiver for farmers was one of the biggest poll promises of the Bharatiya Janata Party. According to officials, there are around 2.30 crore farmers in Uttar Pradesh of whom, around 2.15 crore fall in the ‘small and marginal’ category. 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.