Cabinet Likely To Approve Relief Package For Farmers On Monday: Report

INSUBCONTINENT EXCLUSIVE:
to approve a package for farmers to boost their income and address distress in the farm sector, sources said, adding that the move will come
income deficit syndrome of small and marginal farmers is on the agenda," a highly placed source said.The agriculture ministry has
recommended several options to provide both short and long term solutions to address agrarian distress
However, a final call will be taken in the cabinet meeting as a huge cost is involved, the sources said.One of the options proposed is
waiving interest on crop loans for farmers who pay on time, costing an additional Rs 15,000 crore to the exchequer, the sources stated
There is also a proposal to completely waive premium for taking insurance policy for food crops.The centre is also evaluating the scheme
followed by the Telangana and Odisha governments wherein a fixed amount is transferred directly into the bank account of farmers, the
sources added.Agriculture Minister Radha Mohan Singh had recently indicated that the government would announce an agriculture package before
the 2019-20 Budget, to be presented on February 1.Experts said the government has less time to implement any new scheme
The measure has to be such that it can be implemented faster to reap the political gains during the election
It may be noted that the central government has taken farmers' issues seriously after the ruling BJP was defeated in Madhya Pradesh,
Rajasthan and Chhattisgarh in the recent state polls, where rural distress was a key factor
Farmers are in distress owing to fall in prices of most crops in view of bumper crop
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