Krishi Rin Samadhan Yojana to Offer Lower Interest Rate Loans to farmers of MP


Krishi Rin Samadhan Yojana to Offer Lower Interest Rate to farmers of MP | कृषि ऋण समाधान योजना 

After the protest by farmers in the state of Madhya Pradesh, state Minister Chitnis A. has announced the launch of the new scheme for farmers. The new scheme is launched by the state’s CM Mr. Shivraj Singh Chouhan in the states cabinet meeting. The new scheme is named as Krishi Rin Samadhan Yojana and under this scheme it is certain that the state government plans to offer lowered interest rate for farmers loan.

Krishi Rin Samadhan Yojana

Key features of Krishi Rin Samadhan Yojana

  • It is certain that the new scheme is launched with an aim to offer the farmers in the state with reduced interest rate for the loan amount.
  • The new scheme is also aimed at offering assistance to the local farmers such that they shall be able to further access credit via banks and financial institutions.

Set Budget for the scheme

  • According to the local sources it is certain that the Shivraj Singh lead government along with the cabinet has already approved the set budget of Rs 1000 crore to be offered under the Krishi Mulya Sthirikaran Kosh.

Why the need for new scheme in the state?

  • The state government had announced the launch of the new scheme after the farmers protested for remunerative crop prices.
  • The protest was made by the state farmers after farmers in Maharashtra protested demanding state government to wave off their loan amount.

Krishi Rin Samadhan Yojana  farmers

Effects of the Protest in the state

  • On account of the ongoing protest in the state, around six farmers had lost their lives and over eight of them were reported injured due to the firing done by the local police.
  • The local court has also ordered the police authority to perform an immediate judicial enquiry in the matter related to firing done on farmers.
  • The state government has also suspended most of the internet services in the regions of Ujjain, Ratlam and Mandsaur to avoid further spread of the protest.
  • The government has also declared curfew in affected parts of the state in MP.
  • The local farmers have also made recommendations about increasing the price of milk from Rs 37 per litre to around Rs 50 per litre.

Steps taken by the government to control the situation

Sources have stated that the Prime Minister Mr. Modi will be holding meeting with top cabinet ministers for discussing the immediate steps that needs to be taken for regulating the condition in the state. The meeting shall be organized in the presence of senior cabinet leaders including Kamal Nath (Cong. Leader), Rajnath Singh and Sushma Swaraj.

It is also expected that the cabinet shall be demanding resignation from CM of the state as the state government has failed in controlling the situation. In a tweet opposition leader Mr. Rahul Gandhi tweted that presently farmers and government were at war.

How to Apply for this scheme

Since this is just a proposal no set criteria has been set on who are eligible and how can we apply for this scheme. We will update this post as soon as any information is available on this.  My experience says that SBI will be a major bank for giving such loans.

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