Lok Sabha / Is Modi government forgiving farmers' debt? Important statement made by the Finance Minister in Parliament.
The Modi government has clarified the situation regarding farmers' debt waiver. Minister of State for Finance Bhagwat Karad has given a written reply in Parliament to resolve the issue.
Will farmers' debt be forgiven?
Important statement given by Modi government in Parliament
Minister of State for Finance Bhagwat Karad's reply
The government has no plans to forgive farmers' debts
Replying to a written question in the Lok Sabha, Minister of State for Finance Bhagwat Karad said that at present, the government has no plans to waive the debts of farmers, including SCs and STs. The Central Government has not implemented any loan waiver scheme since 2008 under the Agricultural Debt Waiver and Debt Relief Scheme.
The minister described the government's plan for farmers
Minister of State Bhagwat Karad said that at present there are several schemes of the Central Government for farmers including interest subsidy for short term crop insurance up to Rs. 3 lakhs, increase in Reserve Bank's agricultural loan limit from Rs. 1 lakh to Rs. There is a plan to give Rs 6,000.
To appease the disgruntled farmers, the central government is planning to deposit Rs 19,000 crore in the farmers' accounts this month alone. Sources said that they are ready to do so.
Possibility to deposit money in beneficiary's account on 9th August
Led by Agriculture Minister Narendra Singh Tomar, the plan is to transfer the amount to all the beneficiaries at once on August 9. The last installment was paid on May 14. Under this scheme, money is to be deposited in the accounts of 9.5 crore beneficiaries.
Under the Kisan Nidhi Yojana, the government gives Rs 6,000 to farmers every year
