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Jharkhand government is considering waiving agricultural loans up to Rs 2 lakh

Published on June 18, 2024
Current Context: The Jharkhand government, under the leadership of Chief Minister Champai Soren, is taking significant steps to support the state’s farmers.
Jharkhand government is considering waiving agricultural loans up to Rs 2 lakh
  • On June 14, 2024, Agriculture Minister Badal Patralekh announced a plan to waive agricultural loans up to Rs 2 lakh, which is expected to benefit over 1.91 lakh farmers.
  • This initiative builds upon a previous waiver of Rs 40,000 and is accompanied by an increase in the free electricity quota from 125 units to 200 units for eligible farmers.
  • The loans eligible for this waiver are those taken up until March 31, 2020.
  • During a meeting with the State Level Bankers’ Committee (SLBC), Minister Patralekh urged banks to prepare a proposal for this one-time settlement scheme.
  • This move aims to alleviate the financial stress on farmers and encourage more productive farming practices in Jharkhand.

Question:

1 What recent initiative has the Jharkhand government undertaken to support farmers?

  • A) Increasing the pension for retired farmers
  • B) Free distribution of agricultural equipment
  • C) Providing tax rebates on agricultural income
  • D) Waiving agricultural loans up to Rs 2 lakh
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