Friday, Dec 24, 2004
Friday, Dec 24, 2004 |
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Advts: Classifieds | Employment | Obituary | Karnataka
By Our Special Correspondent
BANGALORE, DEC. 23. The Government has decided to waive the entire outstandings of farmers who have repaid interest more than the principal amount of the loan borrowed from cooperative societies. A Government Order will be issued shortly. Announcing this while participating in the meet-the-press programme of the Press Club of Bangalore, the Cooperation Minister, R.V. Deshpande, said that the decision will benefit farmers who have repaid interest in excess of the principal amount as on April 1, 2004. That will be a radical step to help the farmer in financial distress on account of droughts during 2001-03. The officials have also been instructed against forcible recovery of loans from farmers, he said. The decision has been taken based on a time-honoured principle of Indian jurisprudence, he said. A decision has also been taken to waive penal interest on crop loans. No penal interest will be levied on crop loans given to farmers. The rate of interest on unsecured loans given by moneylenders and pawnbrokers has been reduced from 23 per cent to 16 per cent and 21 per cent to 14 per cent in respect of secured loans. An order has been issued for reducing the rate of interest on agricultural credit from 13 per cent to 6 per cent and Rs. 60 crores has been set aside in the Budget, the Minister said.
Yeshaswini scheme
The Yeshaswini Cooperative Farmers Healthcare Scheme, he said has caught the attention of the world. Harvard University in the U.S. instituted a Yeshaswini Chair on their own to study the scheme. The Rockfeller Foundation of U.S. also expressed keen interest to take part in the programme. Over 80,000 farmers were treated under the scheme. It has been decided to enrol farm labourers by taking up a special drive. Referring to the functioning of sugar cooperatives, he said the Deputy Chief Minister, Siddaramaiah, has cleared a Rs. 34-crore proposal to approach National Cooperative Development Corporation (NCDC) for pre-operative expenses of seven sugar factories. He said a woollen cooperative textile mill at a cost of Rs. 9.5 crores will be established at Ranebennur. There is a proposal to seek financial support from NCDC to open a chilli processing women's cooperative at Byadgi to manufacture chilli powder. Of the 32,804 cooperative societies, 19,142 are running under profit. Of the 21 district cooperative banks, six are under loss. Asked about elections to boards of cooperative societies, he said that the next Cabinet meeting will decide on the issue. He ruled out political interference in the day-to-day functioning of cooperatives.
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