Madhya Pradesh Chief Minister Kamal Nath launched the Rs 50,000-crore farm debt-waiver scheme named ‘Jai Kisan Rin Mukti Yojana’.
Terming the scheme as a milestone, Nath said it would benefit 55 lakh small and marginal farmers. He said the scheme is an investment in the economy, which can’t be strengthened without farmers.
The state cabinet gave its nod to waive crop loans of 55 lakh farmers on January 5.
Before the Assembly elections in November last year, Congress President Rahul Gandhi had promised that if his party was voted to power, it would waive farm loans within 10 days of government formation.