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Indebtedness of Farmers to Private Money Lenders

In pursuance to the announcement made in the Budget Speech for the year 2009-10, the Ministry of Agriculture has constituted a Task Force under the Chairmanship of Chairman, National Bank for Agriculture and Rural Development (NABARD) to look into the issue of large number of farmers, who had taken loans from private money lenders, not being covered under the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS). The Task Force is to submit its report by 31st March, 2010.

This information was given by Minister of State for Finance, Shri Namo Narain Meena in reply to a question raised by Shri N. Peethambara Kurup in Lok Sabha today.

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Bhartiya No. 1 (Nationalist) 20 December 2009

There are so many Tribals who falls prey to the private money lenders, due to the various acts, which prohibits or puts restriction on transfer/alienation of their land. As a result one tribal cannot mortgage the land like another non tribal even to The Govt. agencies like bank etc to get loan for education or other financial needs like marriage, agriculture etc and till today they are forced to borrow from the moneylenders.