Bhopal, June 28: Madhya Pradesh government today decided to repay bank loans of drought-hit farmers in the state and thus compensate the loss of crop due to deficient rainfall in 2002. "A sum of Rs 110 crore has been provided to different banks which gave loans to farmers in this regard. It will benefit about 5.33 lakh small and marginal farmers in 195 tehsils of 33 districts," an official release quoting Chief Minister Digvijay Singh said here.
Small and marginal farmers took mid-term loans from the banks at the rate of Rs 1,000 per hectare for unirrigated land and Rs 2,500 per hectare for irrigated land but the scanty rainfall last year severely hit the kharif crop in 195 tehsils of 33 districts. The process of adjusting loans for land upto two hectare was going on for other farmers also, the chief minister said adding loans of these farmers would be repaid at the rate of Rs 1,250 per hectare for irrigated land and rs 500 for unirrigated land for two hectares. Singh hoped that the decision would be a great relief to farmers suffering from drought situation and urged them to approach the banks and complete the process of loan adjustment. Bureau Report