Budget 2008-09 Waives of $ 15.3 billion Farming Loans

The farmers show which were going in National capital by all political parties just before Union budget end with loan waiver for small and marginal farmer by proposed union budget for financial year 2008-09.

The Indian government has decided to waive off the entire debt will cost to national exchequer to $ 15.3 billion.

This offer of waiver is proposed for all those farmers who have land holding less than 2 hectares.

As per Ministry of Statistics and Programme Implementation in Government of India records this agriculture based nation has nearly 101.3 million land holders in country in 2002-03 out of which 78% have less than 2.5 hectares land holding ,it means majority of Indian farmers are entitle for purposed waiver.