The Bharatiya Janata Party (BJP) has kept its promise of waiving farm loans in Uttar Pradesh. The decision regarding this was announced today by Chief Minister Yogi Adityanath during the first Cabinet Meeting. The loan waiver will be applicable for small and marginalized farmers and it will have an upper limit of Rs 1 lakh. Small farmers are classified as those that have 5-acre land whereas marginal farmers are those that have 2.5 acre land. Around 86 lakh farmers are expected to benefit from this announcement. The loan waiver will cost the UP government a staggering Rs 36,000 crore.
Other key decisions taken during the Cabinet Meeting:
- Approval for the creation of a new industrial policy that will seek to create jobs and stop migration of youths in UP
- Approval for ban on slaughterhouses and formation of anti-Romeo squads
- Approval for the proposal to buy 100% wheat crop of farmers across the state
- Approval for a new sports stadium in Ghazipur
- Farmers will get additional Rs 10 per quintal along with the Minimum Support Price (MSP). All transactions to be based on Aadhaar; no involvement of middlemen
- Formation of a new committee to look into the problems of potato farmers