You are here: Home » PTI Stories » National » News
Business Standard

Not in favour of farm loan waiver: Govt informs Parliament

Press Trust of India  |  New Delhi 

The government is not in favour of farm as it negatively impacts credit and recovery climate, Parliament was informed today.

However, several measures have been initiated to reduce the burden on farmers and increase availability of institutional credit, of State for Agriculture Gajendra said in a written reply to the Lok Sabha.

"The government is not in favour of as it negatively impacts credit and recovery climate and has systematic consequences," he said.

Highlighting steps taken to reduce burden on farmers, he said since 2006-07, farm up to Rs 3 lakh are provided at a lower interest rate of 7 per cent per annum. Additional interest subvention of 3 per cent is given to those farmers who repay their loan promptly.

This scheme is operational in 2017-18, he added.

Asked about impact of GST on marketing of agri-produce by farmers, Shekhawat in a separate reply said: "There are no reported cases of farmers facing problems regarding marketing of their produce due to GST...."

There are also no reported cases whereby benefits of GST have gone directly to manufacturers and dealers, he added.

On transfer of administrative control of to Department of Agriculture, the said the cabinet secretariat has decided to maintain status quo.

has said that it is not justifiable to transfer the functions relating to production, development and domestic marketing in respect of plantation crops from the to itself, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 19:21 IST