A huge Farmers Debt Relief Fund worth Rs 10,000 crore has been approved by the Union Cabinet on Thursday for financing a scheme for debt waiver and debt relief to the farmers. The officials of the government have stated that this approval has came following the announcement of the government in the budget for 2008-09.
According to a senior official fro the government, the Debt Relief Fund is going to subsequently be enhanced by Rs 15,000 crore in the financial year of 2008-09, Rs 15,000 crore in fiscal 2009-10, Rs 12,000 crore in fiscal 2010-11 and another Rs 8,314 crore in the financial year of 2011-12. The official further informed that the debt waiver scheme, is being widely seen as a populist measure ahead of the general elections in 2009 and it is likely to be implemented by 30th June, 2008.
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| Posted : 3/28/2008 |
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