Central Government MP Jai Kisan Rin Mukti Yojana (Karz Mafi) Phase 2 – Second...

MP Jai Kisan Rin Mukti Yojana (Karz Mafi) Phase 2 – Second Farm Loan Waiver

Madhya Pradesh govt. will soon announce MP Jai Kisan Rin Mukti Yojana Phase 2 to waive off agricultural loans of farmers. Under this MP Kisan Karz Mafi Yojna Second Phase, around 12 lakh more farmers would be covered. In the 1st phase of Kisan Karj Mafi Yojana, govt. had waived off loans of 21 lakh farmers who had debts upto Rs. 50,000 in their current loan accounts.

The state govt. is starting phase second as farmers are not getting benefits of crop insurance scheme (PM Fasal Bima Yojana) after recent floods. Moreover, the previous govt. had not paid premium dues of Rs. 2,301 crore.

In the MP Farm Loan Waiver Scheme Phase 2, govt. will waive off loans upto Rs. 2 lakh taken from nationalized and co-operative banks.

MP Jai Kisan Rin Mukti Yojana (Karj Mafi) Phase 2

MP govt. is going to start Jai Kisan Rin Mukti Yojana Phase 2 to waive off agri loans of farmers. Under this Farm Loan Waiver Scheme, govt. will waive off agricultural loans upto Rs. two lakh taken from nationalized and cooperative banks. This Kisan Karj Mafi Yojana will cover 12 lakh more farmers as compared to 21 lakh farmers in phase 1.

In the FY 2019-20, the MP govt. had paid premium of Rs. 509 crore but farmers does not get benefits of this scheme as center wants state govt. to pay Rs. 2,301 crore. Former Shivraj Singh Chouhan led govt. did not pay insurance companies Rs. 165 crore for Rabi harvest of 2017-18, Rs. 1,772 crore for Kharif in 2018, Rs. 424 crore for Rabi in 2018-19. The central govt. has also not released Rs. 1,000 crore due under Bhavantar Yojana.

MP govt’s Jai Kisan Rin Mafi Yojana Phase 1 has re-opened bank doors for 10 lakh farmers. These farmers could not have qualified for bank loans again if govt. had not implemented Farm loan Waiver Scheme. Along with the Kisan Karz Mafi Yojana, MP govt. had reduced power bills of farmers community by 50% under Indira Gandhi Kisan Jyoti Yojana.

MP govt. is also giving 50% subsidy on purchase of agricultural tools and CM has also announced Rs. 160 bonus per quintal of wheat. MP govt. is also taking initiatives for farmers to promote organic farming. For the promotion of organic farming, govt. has decided to construct 1,000 gaushalas in the first year. By the 5th year, each panchayat in MP will have cow shelter.