Rajasthan government is planning soon to set up ”Agriculture Loan Waiver Commission” to formulate rules for waiving farm loans up to Rs 50,000 from cooperative banks as per declarations made in the latest state budget, reports Times of India.
A minister of the Rajasthan government has claimed Rajasthan is the first state to have developed a proper system for loan waiver. The minister added Rajasthan has allocated a whopping Rs 1.35 lakh crore for farmers in the last 4.5 years.
A source says, the commission, among other things, will consider providing benefit to farmers who have taken loans from private banks.
Observers see the move as an attempt to pacify farmers who have been disgruntled with the BJP government.