Farm Loans

Congress leader Rahul Gandhi, who is leading the 3,500-km 'Bharat Jodo Yatra' on Monday said farm loans would be waived in Telangana if his party comes to power in the next elections. Speaking at a public meeting in Jukkal constituency before entering Maharashtra, he said hospitals were being privatised and education system was being destroyed in Telangana. Farmers are not getting a supporting price. No farmer feels that farming is a profitable venture. The UPA government waived agriculture loans to the tune of Rs 70,000 crore. We promise farm loans will be waived when we come to power, he said. Alleging that the ruling TRS government is not implementing the Tribal Bill that the UPA government had brought, the Congress leader said the lands of Dalits and Adivasis that were allegedly grabbed would be returned to them. He alleged that education has become expensive and one has to spend lakhs of rupees to become an engineer or doctor. He charged BJP and TRS with working in tandem an

Announcing yet another pre-poll "guarantee" in Gujarat, Aam Aadmi Party convener Arvind Kejriwal on Friday said his party, if voted to power in the state, will waive farm loans and also create a mechanism to buy produce from farmers at Minimum Support Price (MSP). In his address to farmers at Dwarka town of Devbhumi Dwarka district, the Delhi Chief Minister also promised to conduct a fresh survey of land as farmers were unhappy with the survey conducted recently by the BJP government. "Though MSP is announced every year, farm produce is not sold at that price. It is my guarantee that our government will buy at MSP if farmers do not find any other buyer who is willing to buy their produce at MSP. We will start with five farm produce such as wheat and paddy, and then add more," said Kejriwal in his address. Without elaborating, the Delhi CM also promised loan waiver for Gujarat farmers under an AAP government. "I learnt that farmers in Gujarat get electricity at night to irrigate ..

Credit to Mid, small units also see higher growth

Credit costs could touch Rs 2.7 trillion

This will be applicable for short-term crop loans of up to Rs 3 lakh per farmer, the RBI said

Most of these write-offs have been only in paper as actual write-offs have not been more than 60%

Waiving farm loans has led to higher NPA in agriculture

On Wednesday, the Allahabad High Court directed the state government to clear dues of sugarcane growers

Besides recent corporate slippages, slowdown would impact unsecured retail loans, farm and micro finance loans, commercial real estate and NBFCs and poorly-rated corporates with risk of downgrades

There were also suggestions to have an agriculture credit guarantee scheme, and a stronger institutional network to prevent multiple lending in the agriculture sector

The crop-loan target for FY19 was Rs 58,324 crore for Maharashtra

The Congress is set to form the government in Madhya Pradesh, Rajasthan and Chhattisgarh following assembly polls in the three states

The state government would shoulder the financial burden of the cheaper farm loans

Farm debt waivers have serious adverse consequences

Taking their cue from Uttar Pradesh, more state governments could waive loans to farmers

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, ...

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

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

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

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