As agriculture is the backbone of the Indian economy, several policies and schemes are introduced by the government to support the farmers in the country. One such scheme is the Mukhymantri Krishi Rin Mafi Yojana, introduced by the state government of Madhya Pradesh in 2019.
The scheme is designed to provide debt relief to the farmers of Madhya Pradesh who have taken loans from banks and other financial institutions. Under this scheme, the government will waive off the outstanding loan amount of eligible farmers, which will be directly credited to their bank accounts.
To be eligible for the scheme, the farmers have to fulfill certain criteria like owning land up to 2 hectares, taking a loan for agricultural purposes before 31st March 2018, being regular with loan repayments till the cut-off date, and not defaulting on any other government loan.
The scheme has received overwhelming response from the farmers of the state, with more than 20 lakh farmers expected to benefit from it. The government has allocated Rs 4,000 crore for the scheme in the state budget.
The introduction of this scheme has been widely applauded for its potential to reduce the mounting debt burden on farmers, which has been one of the major reasons for farmer suicides across the country. With this scheme, the farmers can now get a fresh start and focus on enhancing their agricultural practices without the burden of debt.
However, the scheme has also faced criticism from some quarters, who question the fairness of such waivers and its impact on the state’s fiscal health.
Overall, the Mukhymantri Krishi Rin Mafi Yojana is a positive step towards empowering the farmers of Madhya Pradesh and ensuring their well-being. With proper implementation and continuous support, this scheme can bring a positive change in the lives of thousands of farmers in the state.