Newly formed government in Karnataka has announced a scheme named Karnataka farm loan waiver scheme which will be beneficial for the farmers. Karnataka chief minister HD Kumaraswamy launched crop loan waiver scheme with spending of Rs. 34000 crore on this scheme. Recently the election in the state were completed and the people of the state were waiting for the first budget of this government.
At first as before the election the party of HD Kumaraswamy promised to launch a scheme for the farmers of the state and it is completed now. The CM announced that under this scheme the state government of Karnataka would waive off crop loan upto Rs. 2 Lakh.
The Bangalore Political Action Committee (B.PAC) has written to the CM to constitute a high-powered committee to formulate a Direct Benefit Transfer (DBT) Portal for the registration of karnataka crop loan waiver scheme. Soon the state government of Karnataka is going to launch DBT portal for karnataka farm loan waiver scheme.
Karnataka Farm Loan Waiver Scheme Eligibility Criteria
Here is the eligibility criteria for Karnataka crop loan waiver scheme.
- The state government of Karnataka has fixed the maximum loan of rs. 2 Lakh will be waived off under this new scheme.
- In the first budget of this newly formed government the loan of the farmers taken from Nationalised and co-operative banks will be waived off.
- Families of officials of the cooperative sector are not eligible.
- All the families of government officials and other ineligible farm loan recipients are not allowed to take the benefits of this scheme.
- Farmers who have not paid income tax for past 3 years are also not eligible.
The state government of Karnataka is going to launch DBT portal to enable the farmers to make their registration to take the benefit of the proposed farm loan waiver scheme and ensure benefits reach the hands of the genuine beneficiaries and will avoid frauds.