Krishi VaartaDainik Bhaskar
Small farmers preparing to bring proposals for more debt
10 per cent more loans every year, the government said
Agricultural loans are growing at a rate of 10 per cent annually and have reached Rs 10 lakh crore by the end of the last fiscal year. The government on Tuesday insisted on giving more debt to farmers.
At the closing ceremony of a FICCI program, Ministry of Agriculture Joint secretary Ashish Kumar Bhutani said the Ministry of Agriculture will soon hold more debt-related proposals to marginal and smallholder farmers before the central cabinet. This offer will be based on the recommendations of the Sarangi Committee. Agricultural debts are growing steadily, he explained.
He reported that a loan worth Rs 10 lakh crore was dealt with in the last fiscal year for the short term of Rs 6.8 lakh crore. Of the short term loan, 50 per cent are given to small and marginal farmers. The ministry has solicited data from banks to better determine the target of agricultural loans from banks, he said. The Policy Commission on Agriculture for lease cultivation is working on creating better systems. Currently, those who cultivate leases do not get agricultural loans. In its view, Finance Minister Arun Jaitley said in a budget speech that the policy Commission is seeking advice from the government to build a better system for loans to those who cultivate leases.
Source- Dainik Bhaskar 23 April 18