As a part of the election campaign, the now CM of Uttar Pradesh Adityanath Yogi promised to waive off farm loans. Keeping this promise in his first cabinet meeting, the CM waived off a total of Rs. 36,359 crores worth farm loans which were taken by 94 lakh farmers of small and marginal performance in the State.
This amount also includes the 7 lakh farmers amounting to Rs. 5,630 crores which have been declared as Non-Performing Assets (NPAs) by the banks. This step is a result of the Lok Kalyan Sankalp document 2017 in which small and marginal farmers were promised a waiver. This was also promised by the Prime Minister Narendra Modi, who said that if the party comes to power in the State, the small and marginal farmer loans will be waived off.
As Per government records, in the state of UP, there is a total of 2.30 crores farmers. Of this 1.85 crores are marginal farmers and 0.30 crores are small farmers. The cabinet that held its first official meeting on Tuesday after 15 days of taking charge had decided to waive off outstanding loans. The government also decided to settle NPAs loan in a one time settlement.
