Hanuman Beniwal, the National President of the Rashtriya Loktantrik Party and Member of Parliament from Nagaur, addressed the issue of increasing debt among farmers and sought clarity on farm loan waivers during a Lok Sabha session. The Finance Minister, Nirmala Sitharaman, responded to his query. Beniwal criticized the government for its perceived lack of empathy towards farmers in distress.
In her response, the Finance Minister clarified that there are currently no plans for a complete waiver of farmers’ loans under consideration by the Central government. Beniwal expressed disappointment on behalf of farmers already struggling with mounting debts, recurring agricultural losses, and challenges in sustaining their livelihoods. He highlighted the seriousness of the situation, citing official data.
According to the Finance Minister, agricultural credit disbursement in the country has shown a 15% Compound Annual Growth Rate over the last three financial years. Beniwal argued that this growth in credit reflects an increasing burden on farmers without adequate relief measures. He criticized the government’s “doubling farmers’ income” claim as more of a political slogan than a practical reality.
Government statistics indicate that outstanding agricultural loans in Rajasthan have reached Rs 1,92,293 crore, with the national total standing at Rs 31,34,808 crore. Beniwal accused the government of diverting attention from core agricultural issues by promoting schemes like PM Kisan Samman Nidhi and PM Fasal Bima Yojana. He stressed the necessity of a comprehensive one-time farm loan waiver to truly support farmers and proposed increasing the annual assistance under the Kisan Samman Nidhi scheme to Rs 1 lakh for meaningful financial aid.
