Farmers of Haryana will no longer have to pay interest on crop loans. The government has issued orders to the officials not to recover interest from the farmers.
Earlier, the government had issued an order on April 19 in which the interest on crop loan was increased from 4% to 7%.
However, when this order came out and the opposition parties, especially former CM Bhupendra Singh Hooda, raised questions about it, the government withdrew this decision.
An order has now been issued by the General Manager of the Cooperative Bank regarding this, in which it has been said that no interest will be charged on the loan.
What did the government order on April 19?
Haryana Cooperative Bank Headquarters had issued an order on April 19. In which it was said that 7% interest has to be recovered from all those who have taken loan from the bank. After this, it started being opposed. Former CM Bhupendra Hooda raised questions that the government was claiming that it will not charge more than 4% interest on crop loan, but now 7% interest has been imposed on crop loan. Farmers are already troubled by natural disasters, after this the burden of interest on loan will break the farmers. He had demanded the government to immediately withdraw this decision.
What did the government say by changing the order?
In the new orders, it has been said that now all MPAX managers and all branch managers will not take interest from any loanee member of MPAX. If interest has been collected from anyone, then it should be returned. In the new order, the bank general manager has been instructed to make recovery without interest as before till further orders, until any orders come from the headquarters. Ensure the implementation of these orders with immediate effect.
Loan is given for seeds, fertilizers, pesticides
Crop loan has been started to provide financial assistance to farmers for their farming. This loan is mainly given to buy seeds, fertilizers, pesticides and other agriculture related things. It is available for a short period. Usually it is given for the season and is recovered as soon as the crop is harvested. Before April 19, the government was recovering it at the rate of 4% interest.
