NCDC sanctions Rs 5000 crore for Rajasthan govt farm loan waiver

NCDC sanctions Rs 5000 crore for Rajasthan govt farm loan waiver

NCDC sanctions Rs 5000 crore for Rajasthan govt farm loan waiver

After days of uncertainty over funds required for farm loan waiver scheme announced by Rajasthan Chief Minister Vasundhara Raje in her state budget this year, an amount of Rs 5,000 crore was finally sanctioned by the National Cooperative Development Corporation (NCDC) on Thursday as short term working capital loan.

“A loan of Rs. 5,000 crore has been sanctioned by the NCDC which will be finalised after it is put up before the state finance department for final stage considerations. This money will be used for waiving farm loans,” a senior official from the Cooperative Department told to media on condition of anonymity.

Prior to the NCDC sanction, the Rajasthan government had to postpone district-level loan waiver camps scheduled on May 26 and 28. Rajasthan Cooperatives Minister Ajay Singh Kilak said in a statement that May 31 has been decided as the new date when the CM will flag off the camps from Banswara district.

In her budgetary speech in February, Raje had announced a one-time loan waiver for small and marginal farmers in the state up to Rs 50,000 in the overdue and outstanding category of short term loan provided by cooperative banks which will cost the state exchequer an amount of Rs 8,000 crore.

Tejkaran Harsh

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