OTS Scheme turns out to be a failure

Mumbai: One time settlement (OTS) scheme has turned out to be a failure due to the poor response from the farmers and the banks. Even today, Rs 12,000 crore meant for the loan waiver for 8 lakh farmers remains unutilised, despite the chief minister's follow-ups with the bankers.

CM Devendra Fadnavis had declared recently that government cleared a 47.88 lakh farmers out of which 34 lakh were given waiver benefits and 14 lakh were sanctioned incentive scheme benefits. Government had given loan waiver up to Rs 1.5 lakh per family. Those farmers who have loan more than 1.5 lakh were offered the OTS scheme. It was offered that government would pay  Rs 1.5 lakh if farmer would pay the remaining amount first. So government had deposited Rs 12,000 crore for OTS scheme to extend the benefit to the 8 lakh farmers. but out of 47.88 lakh beneficiaries, the waiver amount is deposited in only 32.5 lacs accounts of farmers. 

There is not much response for OTS Scheme from farmers and the banks. CM Fadnavis had told banks few times in a meeting that they should offer incentive or instalment scheme for farmers for remaining amount other than Rs 1.5 lakh but nothing has been done so far and the money deposited for this is unutilised, sources told. 

Mr Deshmukh told  The Asian Age that, "Farmers have got money due to good crop. So they will now pay the remaining amount to the bank and avail the benefit of the OTS schemes.