Despite the BJP making no promises in their manifesto regarding any form of loan waiver, there’s a silver lining for the farmers in Uttar Pradesh. An important update is on the horizon for them.
Latest KCC Waiver Update Coming Soon
This breaking news brings a ray of hope for farmers, with a latest update expected soon about the Kisan Credit Card (KCC) waiver. What is the latest development for farmers? According to information, a new planning phase for the farmer loan waiver scheme is underway. Let’s break down what this means in detail.
No KCC Waiver Plans in Manifesto
In the recent elections, the BJP did not include any KCC waiver-related plans for farmers in their manifesto. However, plans are being made to relieve farmers of their debts, and this project has already begun. Here’s what’s being done to make farmers debt-free and which farmers will benefit, and how much debt will be written off.
Government to Waive Up to One Lakh Rupees
Initially, the focus will be on farmers who have been declared defaulters under the KCC scheme. Those farmers who haven’t paid any interest and are in dire financial straits will be included. The government will forgive up to one lakh rupees of the debts owed by small and underprivileged farmers, who typically have debts between one and two lakh rupees.
Direct Benefit to Small Farmers
Small farmers will directly benefit from this scheme. Larger farmers, however, may not see any benefits. By January to February 2025, the plan for the farmer loan waiver should be complete, and by March, farmers could start taking advantage of this program.
The government has not yet released any official updates. Once an official notification is issued, we will provide you with all the details.