PM announced relief measures for distressed farmers
Prime Minister Narendra Modi on 8 March 2015 announced two major measures aimed at providing relief to distressed farmers due to unseasonal weather conditions in the rabi season. As per the decision announced.
- Farmers will be eligible for input subsidy even if 33 percent of their crop has been damaged due to unforeseen weather conditions as opposed to 50 percent or more, which is the norm till now.
- Input subsidy given to distressed farmers will be enhanced by 50 percent of the existing amounts.
The announcements were made in the backdrop of crop damage due to unseasonal rains and hailstorms in winter in North and Central India.
According to an estimate about 113 lakh hectares or 16 percent of total crop area under the rabi season in the country has suffered losses.
The decision was arrived at after taking into account the report submitted by the Inter-Ministerial team led by Union Transport Minister Nitin Gadkari to assess the crop damage.
In a similar move, the Reserve Bank of India (RBI) on 8 April 2015 instructed banks to restructure loans of farmers whose crops have been damaged by the recent abnormal weather conditions.