Apply for Krishi Rin Samadhan Farmer Loan Yojana in MP


Apply for Krishi Rin Samadhan Farmer Loan Yojana in MP

Krishi Rin Samadhan Yojana is a loan waiver scheme launched by the Madhya Pradesh state government. Loan defaulter farmers will also get interest subsidy under this scheme. The scheme is considered as a long term solution for the continuous protests by the farmers of the state. They can also avail Mudra Loan which is a subsided loan scheme from central government.

Krishi Rin Samadhan Yojana in MP

Launch Date

The Krishi Rin Samadhan Yojana was launched on 7th June 2017 in Madhya Pradesh. State Minister Smt. Archana Chitnis has launched the scheme on last Wednesday by saying that from now onwards farmers will not be required to pay heavy loan interest under this scheme.

Key Features in Krishi Rin Samadhan Yojana in MP

  • Krishi Rin Samadhan Yojana is a scheme that is to help the farmers of the state of Madhya Pradesh. This scheme has launched to minimise the loan burden on the farmers.
  • Under this scheme the farmers who are loan defaulters, will get relaxation on the interest rates. They need to repay much lower amount than earlier time.
  • The state agricultural ministry has set up a department under the scheme. This department will be responsible to find out the production cost of the primary sector production of the state.
  • This department will then be able to find out the profit of the farmers by knowing the cost of production. This will help each and every farmer to earn proper profit.
  • Under this scheme the said department will look after the price of the products by the farmers. As they will be responsible for finding the cost and profit, they will make sure that no farmer will be deprived.
  • The state agricultural ministry has also decided and declared that they will buy the produced crops such as tuar, onion, moong and pulses and so on from the farmers at minimum support price. This will last till 10th June 2017.
  • Nearly 22 districts have already started implementing the scheme. According to the reports in major centres the purchase of crops at MSP has been successfully done.
  • Also the state government has planned to start a mobile application for the same in future. This app will help the farmers to get maximum information about the market or mandis where they can sell their products at declared prices.
  • According to the authority, this scheme will also provide one time annual loans as per requirement. Adding to this, the authority assured that the loaners do not need to opt for crop insurance scheme.

Budget Allocation by MP government

According to the minister Smt. Archana Chitnis, the MP government has allocated Rs. 1000 Cr for the scheme. farmers should also opt for Fasal Bima Yojana from central government.

Latest News about the Farmer Protest in MP

Since last few days, farmers of the state of MP got furious for various reasons. One of the many reasons was the loan burden that they are carrying but unable to repay back. This protest turned to a worst picture on 7th of June this year when 6 of the farmers were killed and some 8 farmers were critically injured. All this happened during confrontation between police and farmers. This triggered the state government to launch this scheme for the farmers to give them financial assistance.

Aim of the protestation

The main aim of such protest is to hike the price of the agricultural products including milk. According to the farmers, price of the milk per litter should be at least Rs. 50/- as the cost per litter in Rs. 37/-. On the other with this protest they want to protect the loan defaulters who are unable to repay the heavy crop loans.

Apply and Eligibility

Apart from launching this scheme for the farmers, the MP government also promises to give away Rs. 1 Cr to the family of each deceased farmer and Rs. 5 Lac for the farmers who are being critically injured. No official statement have been given on the process to apply. All farmers should be eligible for this scheme.

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