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Rajasthan Crop Loan Waiver Scheme and Interest Subsidy Scheme – 2018

The Government of Rajasthan has announced crop loan waiver scheme to the farmers of the state. The scheme will cost abour Rs 8,000 crore. The loan waiver scheme is aimed at marginal farmers in the overdue and outstanding category of short loans offered by co-operative banks in the Ironically, BJP has argued several times against freebies to farmers.

Election Strategy:

Rajasthan is going for Assembly elections soon and the ruling BJP has lost 2 Parliamentary by-elections recently. The crop loan waiver scheme appears aimed at garnering the public support in view of the elections.

The Vasundhara Raje government has also announced land revenue (lagan) exemption scheme. This is likely to benefit about 40-50 lakh farmers. These are one time beneficiary schemes.

Debt Relief Commission:

The BJP Government is also proposed to set up farmers debt relief commission and this will be a permanent commission. The farmers will get relief on merit basis after submitting their case to the relief commission.

Interest Subsidy:

In a slew of measures, Raje Government has also announced to increase maximum limit of interest subsidy from Rs 5 lakh to Rs 7.5 lakh. The subsidy will be given to women, disabled, SC/ST and entrepreneurs below 40 years of age.

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