2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2 Lakh
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5 Lakh
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7Lakh
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3 lakh
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Detailed explanation-1: -Under this scheme, the loan of up to Rs 2 lakh of the farmers of the state will be waive off by the Government of Maharashtra.
Detailed explanation-2: -In a farm loan waiver scheme, the Centre or the state Government repays the loan to the banks on behalf of the farmers, simply by using public money collected in the form of taxes. When there is a poor monsoon or natural calamity, farmers cannot repay their loans.
Detailed explanation-3: -“Loan waivers destroy the credit culture which may harm the farmers’ interest in the medium to long term and also squeeze the fiscal space of governments to increase productive investment in agriculture infrastructure,” the report concluded.
Detailed explanation-4: -A loan waive-off is a benefit offered to borrowers by the government where the borrower is no longer under the burden of paying back the loan amount to the lender as a result of a genuine change in their financial circumstances. Examples of loan waivers are the Agricultural Debt Waiver and Debt Relief Scheme in India.