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

Current Context: The Jharkhand government, under the leadership of Chief Minister Champai Soren, is taking significant steps to support the state’s farmers.

• 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

Answer: D) 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.