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| PDP-BJP falters on Kisan Credit Card loan waiver proposal | | No formal letter sent to banks, nor Rs 150 cr funds released as yet | | Early Times Report
Jammu, May 17: PDP-BJP alliance government has faltered on one of the big claims made by its erudite -Finance Minister Dr Haseeb Drabu who proposed in his budget presented in March this year that 50 percent of the Kisan Credit card loans would be waived off. This was proposed albeit with certain riders. Two months on, no movement has been seen as neither any letter has gone to banks so far nor is government learnt to released funds for the same till date. On the contrary, the farmers in utter state of confusion and ambiguity, instead of feeling any relief are increasingly becoming defaulters of the banks.
Sources said the government has not sent any formal communique or letter to banks informing about what they contended in the budget proposal offered by Finance Minister. For the purpose the PDP-BJP government, Drabu had indicated to agreed to earmark Rs 150 cr. The waiver was however applicable to farmers who have an outstanding balance of less than Rs one lakh in their account. This step aimed at providing succour to farmers was in acknowledging the bad condition of the farmers who have been suffering for one or the reason for the past few years, sources said adding that in was in view of their increased liabilities in the form of Kisan Credit card loans that Finance Minister had proposed 50 percent waiver of loans.
However, this has not yet come through as not even a formal letter has so far gone to banks informing them about the decision of the government that came to fore as a proper well explained and highly appreciated proposal of the new government. Already faced with financial crunch and lack of adequate funds for many other works, the government has not been able to release even release a small amount for the purpose, even as it has claimed that Rs 150cr would be earmarked and spent on the same. The basic condition, however, was that the accounts have to be standard as on August 31, 2014.
Moreover, for the purpose of the write-off the amount considered will be the balance outstanding as on 31st March 2015, is what the budget proposal mentioned. This money, FM had stated in the speech was to be given to the banks who have issued these KCCs. Under the scheme, banks in turn were to extend the relief to the card holders. All this stands on papers as on date.
The implication of this delay, so to say faltering for whatever reasons of the government, is that miseries of the already burdened farmers have compounded. While the farmers are under impression of 50 percent waiver, the banks as a matter of duty and work are making recoveries in routine. For poor farmers, it is like paying through the nose, no matter this proposal for their benefit and relief stands boldly written in the first budget presented by the government this year. |
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