No proposal to waive off KCC loans up to Rs 3 lakh for farmers: J&K Govt

Jammu, Apr 8: The Jammu and Kashmir government on Tuesday clarified that there is currently no proposal under consideration to waive off Kisan Credit Card (KCC) loans up to Rs 3 lakh availed by farmers.
“There is no proposal in the government to waive off Kisan Credit Card (KCC) loans,” the government said.
The Minister Incharge revealed this in response to a query by MLA Hilal Akbar Lone, who had asked whether the government intends to provide loan relief to farmers burdened under KCC borrowing.
It is pertinent to mention that the stakeholders have been urging the administration to consider a one-sided loan waiver, as a relief measure to mitigate the crises.
Notably, KCC scheme, launched by the government of India to provide timely access to credit for farmers has seen wide adoption in Jammu and Kashmir, however, many reportedly ‘struggled’ to repay. (KNO)