India has been an agricultural country for decades now and for the longest time, we’ve revered our farmers for their tireless services, year after year. But the same farmers usually have it tough for themselves in the face of inconsistencies when it comes to due remuneration for their hard work. Bearing the welfare of poor farmers in mind, the Jharkhand government has launched the Jharkhand Farm Loan waiver scheme 2020-21 under which loans of up to ₹50,000 will be waived off for farmers under the scheme name Fasal Rahat Yojana.

About the scheme

The Jharkhand Budget for 2020-21 was presented in the state assembly and an estimated cost of ₹86,370 crores was announced. The need for the scheme arose considering how 75% of the population depends on agriculture and other allied activities.

Paying heed to the plight that agriculture and its allied activities often go through in the face of adversity, the Jharkhand government has decided to reach out to offer financial assistance. The state government of Jharkhand, through the Fasal Rahat Yojana, will waive off loans and offer the financial assistance that farmers usually find themselves to be in need of.

Eligibility criteria to avail of the Fasal Rahat scheme benefits

In order to benefit from the scheme, the applicant has to adhere to the following:

  1. The applicant must be a resident of Jharkhand state.
  2. The applicant seeking a loan waiver from the Jharkhand government should be a farmer or be involved in agricultural practices.
  3. The applicant must have taken a loan from banks for farming or any other related activity.
  4. Only those farmers who have paid at least one EMI in the loan tenure period will be considered eligible for the loan.

The applicant has to make sure to abide by these criteria to benefit from the scheme.

What documents will be needed to avail of the benefits of the loan?

The farmers willing to avail of the loan waiver offered by the Jharkhand government need to submit their ration card and Aadhaar numbers linked to the bank account to which the loan amount will be transferred. This would be under direct benefit transfer upon the completion of KYC in the concerned bank branch and will be done only on verification on the mobile phones.

The farmers will have to provide their mobile number and a ₹1 token money with the application.

Cut off date

Farmers who wish to avail of the waiver in Jharkhand must note that the loan waiver is available for only those loans which have been availed till the 31st of March 2020.

Summing it up

With this loan waiver scheme, farmers can now breathe easy as their loans no longer loom over their shoulders stressing them out day after day. With a waiver, farmers will now have more disposable income which they can use for their benefit and welfare. The Fasal Rahat Yojana is an ingenious step towards farmer welfare and farmers in Jharkhand can now celebrate financial relief in the wake of this scheme.


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