No proposal to write off farm loans: Government

18 July, New Delhi

The government Tuesday said there is no proposal under consideration to write off farm loan. However, the Centre informed Parliament that there is a facility which has been put in place for farmers to avail concessional debt.

Uttar Pradesh, Punjab, Maharasthra and Karnataka governments have announced loan waiver this year. This was stated by Minister of State for Agriculture Parshottam Rupala in a written reply to both the Houses.

He said, to ensure availability of concessional debt, the government is providing interest subvention to make short-term crop loans up to 3 lakh rupees for a period of one year available to farmers at the interest rate of 7 per cent per annum and in case of timely repayment, the same gets reduced to 4 per cent.

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