BJP Govt in UP will waive off farm loans: Singh

BJP Govt in UP will waive off farm loans: Singh

Finance Minister Arun Jaitley on Thursday ruled out farm loan waivers by the Centre but said states can utilise their own resources in this regard.

The BJP government in Uttar Pradesh will waive off loans of small and marginal farmers as has been promised in party's state election manifesto for the recent assembly polls, Agriculture Minister Radha Mohan Singh said.

He said the Centre will welcome if more states come forward to waive such loans.

"During the election campaign in Uttar Pradesh, BJP had promised farm loan waiver in its state unit manifesto if it was voted to power in the state," Singh had said, intervening in a debate in the Lok Sabha yesterday.

He said there are many other states where, if the Centre provides 3 per cent interest subvention, the state government gives 4 per cent loan assistance so as to sanction the loan at zero interest rate. "Similarly if any state waives off small and marginal farmers' loans, we should welcome it," he said.

"I want to clarify that BJP has mentioned this in its state unit election manifesto, not in the manifesto for the Lok Sabha elections," Singh said.