Haryana Budget: State Announces Interest Waiver On Crop Loans, Provision Of MSP For 14 Crops


Haryana Chief Minister Manohar Lal Khattar unveiled a comprehensive state Budget for the fiscal year 2024-25, amounting to Rs 1.89 lakh crore. In a bid to alleviate the burdens faced by farmers, Khattar declared the waiver of interest and penalties on specific crop loans. Addressing concerns raised by protesting farmers at the Punjab-Haryana borders, he said his administration’s dedication to farmers’ welfare, highlighting the provision of Minimum Support Price (MSP) for 14 crops.

Moreover, the government pledged to enhance financial compensation to Rs 1 crore for the families of soldiers who sacrifice their lives in the line of duty. Khattar, who also serves as the finance minister, revealed that the proposed Budget marks an 11.37 per cent increase compared to the previous fiscal year’s revised estimates.

One of the significant announcements was the waiver of interest and penalties on crop loans obtained from Primary Agriculture Credit Societies (PACS) if the loans were acquired by September 30, 2023, and the principal amount is repaid by May 31, 2024, provided the farmer is registered with Meri Fasal Mera Byora (MFMB).

Responding to opposition queries regarding the National Security Act (NSA) being imposed on protesting farmers, Khattar assured his commitment to farmers’ well-being, citing his own background as a farmer’s son. In a move to ease tensions, Haryana Police retracted its decision to apply NSA provisions against certain farmer leaders involved in ongoing protests.

Furthermore, the Budget allocates funds for various initiatives aimed at social welfare and economic development. Notable provisions include free travel in Haryana Roadways for nearly 22.89 lakh low-income families, establishment of a Rs 10 crore start-up fund to promote drone manufacturing, and training programs for women to operate drones for agricultural purposes, referred to as ‘drone didis.’

Additionally, Khattar announced an increase in the monthly allowance for freedom fighters and proposed the establishment of 400 new sports nurseries, along with high-performance centres for boxing and wrestling in Panipat and Sonepat. The Budget also prioritises the agricultural sector by including 21 vegetables and fruit crops in the “Bhavantar Bharpai Yojana” to mitigate farmers’ risks and reduce stubble burning incidents by 67 per cent in the state over the past two years.


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