The implementation of the bill in Madhya Pradesh will benefit three categories of farmers. Landless agricultural laborers who do not have cultivable land and work in other fields or do share cropping.
There is great news for farmers. The Government of Madhya Pradesh has decided to forgive the farmers’ loans with interest. For this, the Madhya Pradesh Banking Amendment Bill and the Scheduled Tribes Debt Waiver Bill have been approved. It is being called Debt Redemption Bill in easy language. Under this bill, all the loans of all scheduled tribe people living in scheduled areas will be waived till August 15, 2020.
With this, the Madhya Pradesh government is bringing Madhya Pradesh Sahukar
(Amendment Bill 2020) to free other sections from the clutches of moneylenders. According to the government, this bill will free the public from the clutches of moneylender money lenders, who give loans at arbitrary rates without any valid license and charge interest at higher rates. The debt waiver bill states that all the loans taken by the landless agricultural laborers, marginal farmers and small farmers of the state by August 15, 2020 will be reduced to zero. This includes loans taken from non-licensee moneylenders, which will neither have to repay the interest nor any recovery from them.
Which farmers will benefit
The implementation of the bill in Madhya Pradesh will benefit three categories of farmers. Landless agricultural laborers who do not have cultivable land and work in other fields or do share cropping. The government will forgive the entire debt of such agricultural laborers. The second category consists of marginal farmers who have half a hectare of irrigated or 1 hectare of irrigated land.
The government has also decided to forgive the debt of such farmers. The third category consists of small farmers who have irrigated land up to 1 hectare or irrigated land up to 2 hectares, their interest and debt will be waived. The government has earlier enacted a law to free Scheduled Tribes persons from scheduled areas from non-licensed moneylenders.
Action on law violation
The government has also provided punishment for violation of law. The law says that if a licensee moneylender violates this bill, then he can be punished with 3 years and a fine of Rs 1 lakh. The hearing of such a case will not be in the scope of non-act in the civil court. It has also been said in the media report that under the Madhya Pradesh Debt Waiver Bill 2020, legitimate moneylenders will be able to give loans at a fixed rate from the government. According to the rules set by the government, you will be able to give loan and can recover it. There is also a provision in it that farmers who give advance amount or loan to laborers will not have any restrictions on this law.
More Read: The government’s guaranteed profit-making scheme PPF also makes millionaires, know how and when
There are more than one crore account holders in Madhya Pradesh. Of these, 67 percent are landless, small and marginal farmers. All these farmers will get benefit from new farmers. With the implementation of the new law, millions of crores of rupees of debt will be forgiven. Earlier, the government has implemented the loan waiver law for millions of tribals living in 89 notified areas.
Controversy over Congress plan
Earlier, the Congress Party government had brought the Jai Kisan Crop Loan Waiver Scheme. The scheme was started by Chief Minister Kamal Nath as soon as he took office. According to this scheme, the farmers of Madhya Pradesh, who had taken loans for Kisan Bank loans i.e. crops, were forgiven by the government. The government had announced the loan of 2 lakh farmers of the state will be forgiven. However, after the fall of the Congress government, there was a lot of controversy over the loan waiver scheme and the Shivraj government alleged that the loan waiver scheme was not implemented on a large scale.
