No proposal under consideration to waive loans of farmers: Bhagwat Karad

Minister of State for Finance Bhagwat Karad has said that there is no proposal under consideration to waive loans of farmers, including Scheduled Caste and Scheduled Tribe farmers. He said the Centre has not implemented any farm loan waiver scheme since 'Agriculture Debt Waiver and Debt Relief Scheme (ADWDRS), 2008'.

Karad also listed major initiatives taken by the government and the Reserve Bank of India to reduce the debt burden of farmers and for welfare of the people engaged in agriculture, including those belonging to Scheduled Castes and Scheduled Tribes.

The minister cited schemes like interest subvention for short-term crop loans of up to Rs 3 lakh, RBI's decision to raise the limit for collateral-free agriculture loan from Rs 1 lakh to Rs 1.6 lakh, and direct income support of Rs 6,000 per year to farmers under Pradhan Mantri Kisan Samman Nidhi.