The Jharkhand state government officials have announced a new scheme named Jharkhand waived farm loans of up to Rs.50,000. Under the scheme,9 lakh farmers in the state of Jharkhand will be beneficial from the scheme. In the 2019 assembly elections,the ruling coalition took this decision at a cabinet meeting.In the current financial year,around rupees 2000 crore will be provided to the farmers of the state. The ruling coalition government promised to waive farm loans of up to Rs.2 lakh.In the first phase,Finance minister Rameshwar Orson of Congress has decided to provide the Benefit up loan waiver to marginal farmers in the state of Jharkhand.In the second phase,the government will try to waive loans up to Rs.1 lakh and in the third phase,the government will try to waive loans up to Rs.2 lakh respectively.
Farmers can get loans of up to Rs.50,000 from any bank until march 31,2020. Farm waiver loans will be available for the state farmers.Only one member of the family can waive the loans from Jharkhand farm loan waiver.Farmers can apply for the loan waiver and will be targeted for a service free of Rs.1.Jharkhand cabinet approves farm loan waiver scheme with the total budget of 2000 crore. The loan waiver scheme will provide relief to 9 lakh farmers in the state.The state has 12.93 lakh farmers who have farm loans.The state government rule that rupees 7000 core was due.The cabinet minister minister of the state told that the total amount due was rupees 5800 crore.