Union Finance Minister Nirmala Sitharaman informed the Lok Sabha that no proposal for a complete waiver of agricultural loans is currently under consideration by the Union Government.
In a written reply to a starred question raised by Hanuman Beniwal, the Minister clarified the government’s position, reiterating that a blanket farm loan waiver is not being planned at the national level.
However, Sitharaman emphasized that the government has undertaken several measures to strengthen the financial condition of farmers. These include timely and adequate credit through the Kisan Credit Card (KCC) scheme, which provides crop loans of up to Rs 3 lakh at subsidized interest rates under the Modified Interest Subvention Scheme (MISS), along with incentives for prompt repayment.
The government has also been increasing agricultural credit targets annually and ensuring sufficient credit flow to agriculture under Priority Sector Lending norms of the Reserve Bank of India. Additionally, collateral-free short-term loan limits have been enhanced from Rs 1.60 lakh to Rs 2 lakh.
Support measures such as crop insurance under PMFBY and direct income support through PM-KISAN continue to remain key pillars of the government’s farmer welfare strategy.
