-The Hindu Scheme will continue for one year, be overseen by NABARD Amid growing protests over farm sector distress, the Cabinet has approved the extension of the interest subvention scheme for farmers to 2017-18. Short-term crop loans up to Rs. 3 lakh will receive a subvention of 5%, effectively reducing the rate for farmers to 4%. The government has earmarked a sum of Rs. 20,339 crore for this. The interest subvention scheme will...
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Does the Banking System Really Want to Help Farmers? -Devinder Sharma
-TheWire.in The corporate sector is responsible for 70% of the country’s NPAs, but their loans are being waived off while waiving farming loans is still being frowned upon. The Gujarat government gave a loan of Rs 456.79 crore to the Tatas to set up the Nano plant at Sanand, near Ahmedabad. The Gujarat government has acknowledged that the massive loan was given at an interest of 0.1%, to be paid back in...
More »Arun Jaitley rules out help for farm loan waivers to states; Yogi Adityanath, Devendra Fadnavis in a spot
-Firstpost.com Putting state governments that promised loan waivers for farmers in difficulty, Finance Minister Arun Jaitley on Thursday ruled out such waivers by the Centre insisting states can utilise their own resources in this regard. He clarified that the Centre will not adopt a selective approach by helping one state and not the others. The move is likely to put even BJP governments, including Devendra Fadnavis administration in Maharashtra and the newly...
More »Centre rules out farm loan waivers to states
-PTI NEW DELHI: Finance minister Arun Jaitley today ruled out farm loan waivers by the Centre but said states can utilise their own resources in this regard. He clarified that the Centre will not adopt a selective approach by helping one state and not the others. "This issue (loan waiver) has cropped up in several states. The Centre has its policies for agriculture sector under which we provide interest subvention and other...
More »Reading between the lines: Forget the rhetoric, this is no Budget for India's poor -Harsh Mander
-Scroll.in India's social-sector spending remains woefully low and despite claims of being a pro-farmer Budget, the effective allocations are nearly the same as last year. Some commentators expected that the Union Budget 2017-’18 would craft a sharp departure from earlier budgets of this government. This it would do to mitigate the immense suffering of millions of casual workers, farmers and small traders caused by the “shock and awe” of the astoundingly callous...
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