Pradhan Mantri Kisan Karz Mafi Yojana [FORM]


Pradhan Mantri Kisan Karz Mafi Yojana (PM Farm Loan Waiver Scheme) 2018-19 Application Form Process, Eligibility Criteria, List

India is predominantly an agricultural nation. Thus, the central authority is working on the development of Pradhan Mantri Kisan Karf Mafi Yojana. This scheme will waive off the debt of farmers.

The overall progress of the country depends on the better production of agricultural produce. But most farmers in India belong to poor categories. They lack financial capabilities to take care of farm expenses on their own. Thus, they borrow money from banks, which charge interest on the credit amount. BJP has not been able to win the confidence of the people in three major states. This failure has urged the Modi government to come up with new reforms. These reforms may help the government to win back the support of common countrymen, before the 2019 elections.


Launch details

Name of the scheme Pradhan Mantri Kisan Karf Mafi Yojana
Launched in India
Planned by Narendra Modi
Date of announcement 2019
Target beneficiaries Poor farmers of the nation
Supervised by Agricultural Development Department

Key features of the scheme

  1. Eliminating debt burden from farmer’s shoulders – Financial issues haunt farmers of India. They fail to get the best price for their produce. On top of that, they need to worry about the payment of loan interest and repayment. In an endeavor to win the support of these farmers, the Modi government is planning to implement a project that will eliminate the burden of loan repayment from the shoulders of these farmers.
  2. Total number of beneficiaries – The scheme planners estimate that with the successful implementation of this project, the central authority will be able to waive off the agricultural loans of 26 lakh farmers.
  3. Types of loans to be waived off – Modi announced that under this scheme, all types of farmer loans will be forgiven by the central government. Loans issued from private banks, government banks or other commercial institutes will be considered under this scheme.
  4. Total expenditure of the central government – Estimates suggest that if the implementation of this scheme gets a green signal, then the central authority will have to shell out around Rs. 4 lakh crore.

Eligibility and documents necessary for application

No concrete information has been announced about the eligibility for application. As the scheme will be implemented by the central government, it is obvious that farmers from all parts of the country will be able to get the advantage of this scheme. Only full-time agricultural workers will be able to submit their loan waiver application. They must have their Kisan registration certificates. As the central authority highlights other eligibility and document related specifications, we will provide you with the same.

How to get application form and register for the scheme?

The scheme is still in its planning stages. The agricultural department of the central government will require some time to work out its specifications. Till date, that has not been any announcement about the registration application or procedure. As the central government offers more details on this new project, you will receive the information on this website.

What banks comment about the scheme?

Though the scheme has not been implemented, the major banking organizations have voiced their discontent with the project. SBI and RBI top executives are of the opinion that the implementation of this project will topple the balance between lending agencies and borrowers. Raghuram Rajan, who was in charge of the governing activities of the Reserve Bank of India, commented that this scheme was immoral. The SBI officials expressed another fear that the loan waiver scheme will directly accentuate the NPA or Non-Performing Assets ratio. This will pave the path for a disturbing situation in the financial market inside the country. It will also develop a bad habit among people and they will no longer bother to pay their loans. They will develop a feeling that the government will come up with similar proposals, during the election months.

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