Mahar Lal Khattar, Chief Minister of Haryana anunced on Monday that Rs 4,750 crore interest and penalty waiver on crop loans will be taken from cooperative banks. This move will benefit around 10 lakh farmers in state. "A total benefit of Rs 4,750 crore will be given to farmers. This amount may go up by Rs 100 crore to Rs 200 crore as exact calculation is to be worked out. We have given a pack of roughly Rs 5,000 crore to farmers," he said.

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Benefits to farmers

Around 10 lakh farmers who h borrowed from Primary Agriculture Cooperative Societies (PACS), District Cooperative Central Banks (DCCB) and Land Mortg Bank (LMB) will be benefitted. Five percent penalty was imposed on farmers who have failed to repay loans taken from PACS. This penalty will w be completely waived. It will give a benefit of Rs 2,500 crore to borrowers of PACS, Khattar said. He furr stated that out of 13 lakh farmers who h borrowed from PACS, 8.25 lakh farmers’ account h turned into n-performing assets (NPAs). According to Chief Minister, a benefit of Rs 1,800 crore will be given to borrowers of DCCB if y pay principal amount along with simple interest by vember 30. "Around 85,000 farmers h taken loans worth Rs 3,000 crore from DCCB. Out of which, accounts of 32,000 farmers involving an amount of Rs 800 crore have turned NPAs," he said.

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Farmers would pay 2 percent interest for loans less than Rs 5 lakh, 5 percent interest for loans between Rs 5 lakh to Rs 10 lakh and 10 percent interest on loans in excess of Rs 10 lakh. This will give a benefit of Rs 1,800 crore to farmers. In case of loan from LMB, Chief Minister stated that out of total 1.10 lakh borrowers, 70,000 accounts h been declared NPAs. Out of ir total outstanding payment, Rs 750 crore was principal amount and Rs 1,400 crore as interest and penalty. "ir penal interest would be waived. Farmers will have to pay 50 percent of simple interest and rest will be borne by state government. It will give a benefit of Rs 450 crore to farmers,” he said. 

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Mahar Lal Khattar on upcoming Harayana Elections

According to Haryana’s Chief Minister Mahar Lal Khattar, BJP government has received an overwhelming support for revocation of Article 370. He stated that decision has broken all caste barriers in Haryana and Bharatiya Janata Party’s popularity has shot up immensely. “After abrogation of Article 370, miration towards  BJP and its leership has furr increased in Haryana and across country,” he said. According to him, opposition party is trying to take vant by exploiting people's sentiments in Kashmir.

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(INPUTS FROM PTI AND INDIAN EXPRESS)