Impact of Loan Waiving Scheme among Farmers of Rural Haryana

The study was conducted in Haryana state. The sample of 400 debted respondents was selected from eight villages of two districts i.e. Karnal and Bhiwani through systematic random sampling technique. The loan waiving scheme primarily aimed at providing relief to small and marginal farmers indebted to formal agencies, by writing off their farm loans taken between 1 April, 1997 and 31 March, 2007, which were overdue as on 31 December 2007 and unpaid till 29 February, 2008. Analysis revealed that only 21.00% (out of 400) respondents availed loan waiving scheme under one time settlement. Only 10.50% of the respondents got benefit of one time settlement scheme and received the amount in between Rs. 10,000/--30000/-. Regarding socio-economic changes experienced by respondents after availing amount from loan waiving scheme under one time settlement analysis revealed that hundred percent of the respondents felt free from psychological problems. On an average Rs. 6742.00 was waived off under one time settlement of loan waiving scheme.