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11 lakh farmers to benefit from loan waiver scheme

BHUBANESWAR: The State government has set a deadline of June 30 to implement agricultural loan waive scheme announced by UPA government. The Cooperation Department of the State government issued a circular to all cooperative lending institutions to complete all formalities regarding waiving of all agricultural loans availed by farmers.

According to a State government statement released here on Sunday, the decision would benefit 11,77,409 small and marginal farmers across 30 districts.

The total loan amount, which has been decided to be waived, would touch a figure of Rs. 1,466.87 crore.

The State government further issued a direction for the banks that they should extend loans to farmers for kharif season.

Small and marginal farmers, who had taken loans from banks, State Cooperative Banks, 17 district level central cooperative banks, primary agricultural lending agency, Orissa State Cooperative Agriculture and Rural Development (OSCARD) and its associate CARD banks, would be considered beneficiaries.

The farmers, who would have availed loans by March 31, 2007 or have deadline to pay back loans by December 31, would be included in the scheme.

Marginal farmers having cultivable land of 2.5 acre or small farmers ploughing less than five acres of land can avail the benefit, the release said.

Moreover, big farmers having more than five acres of land could apply for loan waive.

“They will have to pay 75 per ent of loan at once under one time settlement scheme while rest 25 per cent could be waived,” it said.

According to Cooperative Department sources, 10,44,391 small and marginal farmers had availed loan to the tune of Rs. 1269.64 crore from primary cooperative lending agencies.

All the lending agencies were directed to open a monitoring cell and appoint nodal officer to implement the scheme.

The State Cooperation department also ordered to dispose of complaints within 30 days.

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