The Union Cabinet which met here today approved guidelines for implementation of the scheme. Briefing reporters Finance Minister P Chidambaram said that the scheme has taken off from today.
"It has taken me two months to draft the scheme and with the cabinet approving the guidelines today the scheme has taken off as off this moment," he said.
Apart from the increase in the total cash outgo, there are several other changes that have been made to the scheme. The salient features include classifying farmers cultivating up to one hectares land as marginal farmers, those cultivating between 1 - 2 hectares as small framers and those cultivating above 2 hectares of land will be classified as other farmers.
Full debt waiver of the eligible amount will be given to small and marginal farmers, benefiting around 36.9 million small and marginal farmer account.
For the farmers the scheme is extremely simple. all they need to do is to visit the local branch and check their names on a list that will be mandatorily put up on notice board.
The farmer has to submit no documentation what so ever, neither does he have to pay any charges.
