CURRENT AFFAIRS

Detailed explanation-1: -Farm loan waiver The first FLW at the national level was announced in 1990 when then prime minister VP Singh waived off ₹10,000 each, and the second country-wide scheme came in 2009 by the United Progressive Alliance (UPA I) government.

Detailed explanation-2: -Kumaraswamy’s government waived off around Rs 15,000 crore of farm loans in 2018 from cooperative and commercial banks for around 20 lakh farmers. Each farmer was eligible to seek waiver of up to Rs 2 lakh.

Detailed explanation-3: -The farmer must have taken a loan only for the agricultural purpose. The farmers family members should not a government or private sector employee. Loans under Rs. 2 lakh only would be waived off. The loan taken by the farmer must be from a primary agricultural credit co-operative society.

Detailed explanation-4: -Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) have been launched by the Government of India to help the farmers financially by providing agricultural loans. Under this welfare scheme, ‘Direct Agricultural Loans’ comprising short term Production Loans for agricultural and allied activities.