Representational pic
Representational pic

Bhopal: The government has approved ‘Gramin Rin Mukti Vidhayak, 2020 (Rural Debt-relief Bill)’, to tighten the noose around usurers. After the Cabinet’s approval, the Bill will be put up before the House in the next session.

Chief Minister Shivraj Singh Chouhan said on Independence Day that he would make a new law to tighten noose around the usurers. The law will check those who lend money without licence and take higher interests. Once the Bill comes into force, all the money lent till August 15, 2020, will become zero.

Marginal, small farmers and farm workers will get the benefit of the Bills. Nevertheless, those who legally lend money will not be stopped from doing so after the Bill turns into a law. Along with that, there will be no bar on lending money to labourers by farmers.

Earlier, the government brought a Bill to give relief from loan to tribal people.

Now, this bill is being brought for the poor in rural areas.

The Cabinet has also approved the scheme the Prime Minister’s Khadya Unnayan Yojna. The state and the Centre have 60:40 partnership in the scheme. According to the scheme, 35% credit linkage will be provided to farm producers, self-help groups and cooperative societies for setting up laboratories, warehouses and incubation centres. According to the scheme, a sum of Rs 500 crore has been made for five years. A committee headed by collectors will be set up in districts to approve up to Rs 10 lakh. To give approval for above Rs 10 lakh, a state-level panel presided over by the chief secretary will be formed.

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Free Press Journal