Three crore marginal farmers to benefit from loan waiver

New Delhi, Mar 18 (UNI) The government today estimated that about three crore small and marginal farmers and about one crore other farmers whose loans are overdue on December 31, 2007 will benefit from the recently announced loan waiver scheme.

The total value of overdue loans being waived is estimated at Rs 50,524 crore and the One Time Settlement (OTS) relief on the overdue loans is estimated at Rs 9,790 crore.

In a written reply to the Rajya Sabha, Minister of State for Finance Pawan Kumar Bansal said the scheme stipulates complete waiver of all loans that were overdue on December 31, 2007 and which remained unpaid until 29, February this year for small and marginal farmers, while there is an OTS for other farmers during the same period.

The OTS covers a rebate of 25 per cent against payment of the balance amount of 75 per cent.

UNI RT SBA DS1506