Saturday, January 23, 2021
Home News Reports Truth behind UP govt waiving farmer loans of 19 paisa

Truth behind UP govt waiving farmer loans of 19 paisa

Since last two days, Twitter is abuzz about the “insensitivity” of Uttar Pradesh Government for waiving farmers’ loans ranging between a few paisa to as low as Rs. 10 and Rs. 37.

However, truth seems far from what is reported and peddled.

As a Twitter user pointed out, it is a trick reporting. The Twitter user elaborates that the total outlay of loan waiver was Rs. 36,000 crore, which was to be exhausted. The calculations were carried out according to a formula and all payments were done digitally, to remove possibility of frauds. While larger amount of loans were waived off, in some cases, many farmers had paid off their loans in the current year, where only fraction of the amount payable was due.

As per this report, if a farmer had Rs. 51,050.9 in their loan account, and the farmer paid off Rs. 51,050 in the current year, the balance 90 paisa would still show as outstanding loan amount. Since 90 paisa is not in circulation, the amount will keep reflecting as outstanding loan balance. In order to avoid the same, 90 paisa were waived off. Hence, the farmer would get loan waiver certificate of 90 paisa.

As per reports, 11.9 lakh small and marginal farmers were given loan waiver certificate of Rs. 7,317 crore. Of these, about 11.25 lakh farmers have received loan waiver of over Rs. 10,000.

The loan waiver is for those loans which were borrowed before 31st March, 2016. After long deliberation, the government has started the loan waiver from 17th August onward. According to Gaon Connection report, Kannauj resident Rajesh Shukhla, in 2016, he had borrowed Rs. 62,000. He got loan of Rs. 315 waived. He claims the farmers are being misguided by some people.

So it appears that an algorithm was used to waive every non-zero outstanding amount, and some minuscule amounts also qualified for that, which was cherry-picked by some media reports to make a sensational story.

Hence, it seems like it was just a mischievous and click-bait headline by the media to grab eyeballs.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

 

Related Articles

Trending now

Haryana Police confirms that the ‘masked man’ was forced by farmer union leaders to make false allegations against police

While the masked man had said he was tasked by inspector Pradeep to kill farmer leaders, there is no inspector by that name

‘Kisan parade’ in Delhi on Republic Day given green light, claim protesters, Police deny receiving any written submission regarding route: Details

Farmer leaders have claimed that they have received approval to conduct a tractor parade in Delhi on the occasion of Republic Day.

Watch: Taking offence at Jai Shree Ram slogans, Mamata Banerjee walks off stage even as PM Modi and Bengal Governor look on

Mamata Banerjee who was sharing the stage with PM Modi, lamented "being disrespected" because she heard Jai Shree Ram slogans

Noida, Ghaziabad, Prayagraj, Kanpur: Hoax bomb threats ahead of Republic Day keep Uttar Pradesh police on tenterhooks

Fear and panic has the state of Uttar Pradesh in its grips after at least six hoax bomb threats were reported from Noida, Ghaziabad, Allahabad and Kanpur

How Congress spread lies about a woman being beaten up by goons in ‘lawless UP’ while the police did nothing: Read what really happened

Recently, a video of a pleading lady requesting UP Police officers to save her from two assailants was doing the rounds on the internet.

Stripped, hung upside down, one other beaten with pipe and still in their custody: 5 big revelations by ‘Masked Man’ Yogesh about farmer leaders

On Saturday, however, masked man Yogesh has made revelations that would give everyone cause for immense concern.

Recently Popular

#BanSportsTak: Netizens angry after India Today owned sports channel claims Virat Kohli suffers from ‘disorder’

"It is a disorder for a captain to (be as aggressive as Virat Kohli). It might be acceptable for a player to have this aggression (but nor for a captain)," the journalist claimed.

Rajdeep Sardesai ‘baffled’ by India Today survey that shows Modi govt winning a sweeping majority if elections held today: Details

Taking to Twitter, Sardesai said that he was 'baffled' to see that despite the economic hardships resulted by the pandemic, Indians still love the Modi government.

How Brazil thanked India for sending Coronavirus vaccine doses: Pawan Putra Hanuman

President of Brazil, Jair Bolsonaro, has expressed his gratitude towards India and Prime Minister Modi for vaccine exports from our country.

Left-wing fury at Vir Sanghvi shows just how much ‘liberals’ hate Hindus

Vir Sanghvi published a column about the ‘shameful persecution’ of Munawar Faruqui and the ‘bogus controversy’ around Tandav

Gujarat Forest Dept to take legal action against Christian Evangelist Paul Dhinakaran over unauthorised use of the department’s logo

Website of Paul Dhinakaran claims of collaborating with the Gujarat Forest Department, a claim junked by the latter

‘I allow you housewives to have extra-marital affair with man of your choice’: Video of Mamata Banerjee’s ‘progressive’ speech goes viral

Mamata Banerjee says she is so "flexible" that she has given permission to housewives to have extra-marital affairs
- Advertisement -

 

Haryana Police confirms that the ‘masked man’ was forced by farmer union leaders to make false allegations against police

While the masked man had said he was tasked by inspector Pradeep to kill farmer leaders, there is no inspector by that name

‘Kisan parade’ in Delhi on Republic Day given green light, claim protesters, Police deny receiving any written submission regarding route: Details

Farmer leaders have claimed that they have received approval to conduct a tractor parade in Delhi on the occasion of Republic Day.

Netizens call out the hypocrisy of Star Wars on ‘bullying’ and ‘racism’ after it comes out in support of liberal actress but ignores bullying...

Despite the vitriolic and racist comments of Krystina Arielle, Star Wars somehow decided to cut her some slack.

The life and times of Vibhor Anand: A clown, fraud or simply deranged? The story of his descent into wild conspiracy theories

Vibhor Anand has spread bizarre conspiracy theories about the death of Sushant Singh Rajput and was arrested for it.

Legendary talk show host Larry King dies in Los Angeles weeks after being hospitalised for Covid-19

Larry King passed away on Saturday at age 87 at Cedars-Sinai Medical Center in Los Angeles, announced his company Ora Media

Watch: Taking offence at Jai Shree Ram slogans, Mamata Banerjee walks off stage even as PM Modi and Bengal Governor look on

Mamata Banerjee who was sharing the stage with PM Modi, lamented "being disrespected" because she heard Jai Shree Ram slogans

Noida, Ghaziabad, Prayagraj, Kanpur: Hoax bomb threats ahead of Republic Day keep Uttar Pradesh police on tenterhooks

Fear and panic has the state of Uttar Pradesh in its grips after at least six hoax bomb threats were reported from Noida, Ghaziabad, Allahabad and Kanpur

‘Journalist’ Uday Rana uses filthy language sitting next to a woman, then ‘complains’ about the woman not talking to him

'Journalist' Uday Rana whines that a lady on the fight with him did not acknowledge his "colourful" conversations

Even as ‘masked man’ Yogesh says he was tortured by farmers to lie about murder plot, Rakesh Tikait blames central govt

The Bharatiya Kisan Union (BKU) spokesperson Rakesh Tikait also alleged that a conspiracy has been hatched to kill four of them and create disturbances during their tractor rally.

AAP MLA Somnath Bharti sentenced to 2 years in jail for assaulting AIIMS staff, soon gets bail from High Court

A Delhi Court had found AAP MLA Somnath Bharti guilty of manhandling security personnel at the AIIMS and sentenced him thereof

Connect with us

245,563FansLike
496,912FollowersFollow
22,900SubscribersSubscribe