The Government today said of the total 8.94 crore farmer households, 4.34 crore (48.6 per cent) farmers were in debt of at least Rs 300 or more.
Citing the NSSO 59th Round survey, Minister of State for Statistics and Programme Implementation, G K Vasan informed Lok Sabha that the rural farmer households spent more than 50 per cent of their total expenditure on food.
"The main reason for this is the priority for food items and low level of purchasing power of rural farmer households," the minister said in a written reply.
He said some common reasons for taking loans were capital expenditure in farm and non-farm business, consumption expenditure, marriages and other ceremonies, education and medical treatment.
Vasan said the government "accorded highest priority to revilatization of rural economy including agriculture sector and bringing improvement in the conditions of farmers".
Several schemes like doubling of agricultural credit flow in next three years and provision of debt relief to farmers affected by natural calamities, restructure the rate of interest in favour of farmers, revamp cooperative credit structure and introduce National Agricultural Insurance Scheme are being implemented by the state governments.
A special rehabilitation package is also being worked out to mitigate distress of farmers in states with high incidence of farmers suicide, he said.
Additional Articles From -
Home |
Finance |
Loans
