Farmers Not Getting Relief on Agricultural Loans from Banks

Kakatpur, 26/7 – In an effort to uplift agriculture and improve the condition of farmers, the state government had introduced a scheme to provide agricultural loans to farmers through various banks. The plan was to offer loans at an interest rate of just 2%, enabling farmers to become self-reliant with the support of banks.

However, in the past two years, the state government has failed to pay the interest subsidy to the banks, placing a heavy financial burden on the farmers. As a result, many farmers are now avoiding agricultural loans from banks and are instead turning to local moneylenders, self-help groups, and borrowing from individuals to continue their farming activities.

This growing financial stress is believed to be a major cause behind the rising number of farmer suicides. Private and cooperative banks in the state are also facing issues because the government has not been reimbursing the promised interest subsidy. This has led to a gradual breakdown in the financial stability of the farmers.

Despite the government’s claims of running numerous beneficial schemes, its discriminatory attitude toward farmers is revealing the true face of the administration. Bank officials have acknowledged that farmers are increasingly losing interest in taking agricultural loans from banks.

There is now a strong public demand that the state government immediately pay the outstanding interest subsidies on agricultural loans so that farmers can actually benefit from the scheme.