Page 2 - Farm Loans

Govt has no plans to waive farm loans, says Santosh Kumar Gangwar

The government has no plans to waive farm loans but there are schemes to reduce costs by timely repayment of the amount borrowed, the government said in Parliament today. "There is no proposal under consideration of the union government to waive...Loans of farmers of the country. However, to reduce the debt burden of farmers...Major initiatives have been taken," Minister of State for Finance Santosh Kumar Gangwar said in a written reply in Rajya Sabha. He was replying to a query whether the government was seeing a growing demand to write off farm loans. Farmers are given loans at reduced rate of 7 per cent for crop loans of up to Rs 3 lakh under the Department of Agriculture, Cooperative & Farmers' Welfare with an interest subvention scheme. Under the scheme, additional subvention of 3 per cent is given to those farmers who repay their short term crop loan in time, thereby reducing the effective rate of interest to 4 per cent per annum for such farmers, he said. Besides, ...

Rising farm loans, defaults another worry for banks

For most banks, 5-6% loans to agriculture sector are NPAs; way lower than mid, large corporate loans

New UP govt will waive farm loans, says Radha Mohan Singh in LS

Agri Minister dismissed Chautala's allegation of 'double standards' being adopted by the Centre

Drought-hit Karnataka seeks waiver of 50% farm loans

Deficit rains during the June-Sept southwest monsoon prompted the govt to declare 139 of the 175 taluks as drought-hit

Maharashtra okays Rs 2,000-cr bank guarantee for farm loans

These banks are predominantly in Vidarbha, Marathwada, and North Maharashtra

Assocham urges government to repay loans on behalf of distressed farmers

Assocham president Sunil Kanoria said the government should commit maximum resources to the rural sector