The Jharkhand government has announced allocation of Rs 2,000 crore for loan waiver of farmers in the state. It has also introduced a new scheme to replace the Pradhan Mantri Kisan Bima Yojna with the state’s own Fasal Rahat Yojna which has Rs 100 crore reserved for the scheme. As per information after the fourth day of the review meetings of various departments conducted by Chief Minister Hemant Soren, these initiatives will most likely come into effect by the end of this month.

According to a report by The Indian Express, a source in the government said: “The biggest challenge will be selecting the criteria for loan waiver.” The source added that during the review of the Department of Agriculture, Animal Husbandry and Co-operative, CM Soren  was informed that a state-level committee has been formed under the Agriculture Minister. 

Stating that the department is building a web portal for the purpose, the source said, “Crop loanee data have been submitted. Various banks have been asked to complete Aadhaar enabling of crop loanee. So far six lakhs Aadhaar cards have been enabled out of 12 lakh loan accounts.”

However, the biggest challenge will be in implementing the loan waiver funds as during the Question and Answer Assembly session in March, the government had stated that the farmers owed Rs 7,000 crore to the banks. But, loan waiver was one of the main poll promises made by both the Congress and the Jharkhand Mukti Morcha ahead of the state Assembly elections.

Meanwhile, the approval of the new Fasal Rahat Yojna awaits the Cabinet’s decision on the same.