Explanation:

The Rajasthan government has recently initiated action to get the farm loans in the state waived through a one-time scheme.

The scheme applies to the loans disbursed by nationalised banks.

The State government has offered to bear the farmers’ share in the waiver scheme.

Farm loan waiver was one of the promises made by the government in its manifesto for the 2018 Assembly elections and party leaders had announced that all loans of farmers would be waived within 10 days of assuming power.

Chief Minister of Rajasthan has sent a proposal to the nationalised banks to bring a one-time loan waiver scheme for the State’s farmers on the lines of a scheme introduced recently by the State Bank of India, in which the agricultural loans, classified as non-performing assets (NPA), were waived.

While 90% of the loans were waived by the bank, the farmers paid the remaining 10%.