Saturday, June 24, 2017

Maharashtra govt announces mega farm loan waiver scheme

Mumbai, (PTI) The BJP-led Maharashtra government today announced a major farm loan waiver scheme that will see debt of up to Rs 1.5 lakh per farmer being written off.

The scheme, announced by Chief Minister Devendra Fadnavis at a press meet here, involves Rs 34,000 crore of relief.

Reforms by Ministry of Agriculture & Farmers Welfare and its Possible Impact

1.      PRADHAN MANTRI FASAL BIMA YOJANA: After through review of erstwhile scheme of Modified National Agriculture Insurance Scheme (MNAIS), the Government launched PMFBY in April, 2016. Under new scheme, farmers are charged uniform rate of premium of 1.5 % in Rabi, Which is the minimum rate till date. The scheme includes not only coverage of risks to standing crops, but also covers risk such as prevented sowing and post-harvest losses.

Kharif Crop Sown in 130.74 Lakh Hectare so far

The total sown area as on 23rd June 2017, as per reports received from States, stands at 130.74 lakh hectare as compared to 119.28 lakh hectare at this time last year.

            It is reported that rice has been sown/transplanted in 16.70 lakh ha, pulses in 5.97 lakh ha, coarse cereals in 17.71 lakh ha, sugarcane in 47.52 lakh hectare and cotton in 24.70 lakh ha.