Farmer Loans Latest News

Govt stated there is no proposal under consideration to waive farmers’ loans

"No farmer loan waive -Govt"

On Monday, the government stated that there is no proposal to waive farmer loans, including those of Scheduled Caste and Scheduled Tribe farmers, are under consideration.

Minister of State for Finance Bhagwat Karad stated in a written statement to the Lok Sabha that the Central government has not implemented any farm loan waiver scheme since the ‘Agriculture Debt Waiver and Debt Relief Scheme (ADWDRS), 2008.’

The minister mentioned again that ‘there is no plan under consideration by the Union Government to waive the loans of farmers in the country, including farmers from Scheduled Castes and Scheduled Tribes.’

RBI’s decision

Karad also outlined major initiatives undertaken by the government and the Reserve Bank of India (RBI) to reduce farmers’ debt burdens and to improve the welfare of agricultural workers, including those from Scheduled Castes and Scheduled Tribes.

He mentioned schemes such as interest subvention for short-term crop loans of up to ₹ 3 lakh, the RBI’s decision to increase the collateral-free agriculture loan limit from ₹ 1 lakh to ₹ 1.6 lakh, and direct income support of ₹ 6,000 per annum to farmers under Pradhan Mantri Kisan Samman Nidhi scheme.

Also Read: Punjab Govt waives farm debt loans of ₹ 590cr for laborers and landless farmers
Read More: ₹90,000 Cr disbursed to farmers under PMFBY Scheme over five years

Knowledge Share

Agri Academy

Agri Mock test, MCQ Agri-Economics, for UPSC/UGC NET/ASRB NET/NABARD/SRF/JRF/KSET/SO/ Competitive Exams