PM Kisan, Kisan Credit Card: Big news for Indian Farmers. The Central Government has clarified that there are currently no proposals for a complete loan waiver for farmers. During a Lok Sabha session on Monday, Finance Minister Nirmala Sitharaman mentioned that the government’s priority is to enhance the income and economic status of farmers instead of focusing on loan waivers.
She highlighted that various schemes are in place to offer timely and affordable loans to farmers. Specifically, through the Kisan Credit Card (KCC) program, crop loans of up to Rs 3 lakh are available at a subsidized interest rate. Additionally, farmers who repay their loans punctually can enjoy extra benefits. All of this is part of the “Modified Interest Subsidy Scheme.”
What is the detail?
To assist farmers, the government has also raised the limit for unsecured agricultural loans. This limit was previously set at Rs 1.60 lakh and has now been increased to Rs 2 lakh. Moreover, according to Reserve Bank regulations, banks have been instructed to ensure that the agricultural sector receives sufficient credit, allowing farmers to access financing easily.
What did the Finance Minister say on PM Kisan?
The Finance Minister further noted that the government is directly transferring funds to farmers’ accounts through initiatives like the Crop Insurance Scheme and the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). These actions aim to stabilize farmers’ incomes and mitigate risks, reducing their dependence on debt.
In response to another inquiry, he also addressed the issue of the disability pension for armed forces personnel. He clarified that this tax exemption is already in place and is now being explicitly included in the new Income Tax Act 2025 to eliminate any confusion. This indicates that the exemption has not been removed but has been maintained in a clearer format.
According to the government, the new rules continue the existing system, not impose new taxes or remove old exemptions. Overall, the government’s message is clear: the focus is not on loan waivers for farmers, but on creating a strong economic support system, while also protecting the interests of military personnel.
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