Haryana to scrap law on auctioning debtor farmers’ landsFebruary 13th, 2009 - 9:11 pm ICT by IANS
Chandigarh, Feb 13 (IANS) Having declared 2009 as the “Year of Farmers and Labourers”, the Haryana government Friday announced a major concession for farmers of the state.
Chief Minister Bhupinder Singh Hooda announced that a law in force which allowed the auction of land of farmers who were unable to pay back loans of banks would be repealed.
“A decision has been taken to completely abolish this black law against farmers,” a state government spokesman said here.
The chief minister also said that now farmers would have to mortgage only one acre of land in lieu of tractor loans from cooperative banks. The move will help farmers as they will not be forced to mortgage their entire land to avail a loan.
“The farmers earlier had to mortgage three to four acres of land for availing this loan, which was disproportionate as at present the floor rate of land is at least Rs. eight lakh (Rs 800,000) per acre whereas the price of one tractor is about Rs. four to five lakh (400,000-500,000) only,” Hooda said.
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