Rs 140 crore loan of 1.60 lac farmers to be waived off Kashmir

Srinagar, May 30 (UNI) Under the Agriculture Debt Waiver And Debt Relief Scheme 2008 (ADWADRS), an amount of Rs 140 crore of 1.60 lakh beneficiaries would be waived off in the Jammu and Kashmir.

An official spokesman said today the Minister for Agriculture and Cooperatives Abdul Aziz Zargar launched the scheme in the state.

He said highlighting the advantages and purposes of the scheme, Mr Zargar said that introduction of the scheme was need of the hour to improve the economy of small, marginal and other farmers of the state.

The farmers were considered the backbone of the economy of the country, the minister said.

He said this was the second successful move after signing and implementing Vaidynathan Committee Report in the state and hoped for positive results.

Mr Zargar said both the opportunities would not only improve the financial strength of the cooperative institutions, but also economic condition of the farmers of the state.

The Minister impressed upon the functionaries of the cooperative banks and other allied financial institutions to understand fully the guidelines of the scheme and ensure achieving the goal for which the scheme was launched.

The farmers would get a great relief by the scheme and hoped for considerable increase in agriculture production of the state, the minister added.

He said it would be the responsibility of the management of the cooperative institutions to monitor the progress of the scheme and take corrective measure where it would be necessary.

UNI BAS SR RAI1402