3 min readFeb 5, 2026 11:22 AM IST
First published on: Feb 5, 2026 at 11:09 AM IST
Loans worth Rs 9.87 lakh crore owed by large corporate houses between 2014 and September 30, 2025, were written off and the agriculture and allied sectors received relief of only Rs 1.67 lakh crore during the same period — these are the figures disclosed by the Central government.
In percentage terms, corporates account for nearly 85.5 per cent of the total loan write-offs, while farmers have received barely 14.5 per cent.
This was in response to a question raised in the Rajya Sabha by environmentalist and Member of Parliament Sant Balbir Singh Seechewal.
Corporate write-offs far outstrip farm relief
The government data shows that out of the total corporate write-offs, Rs 7.21 lakh crore pertained to large industrial loans and more than Rs 2.65 lakh crore was written off in favour of big business entities under various banking provisions.
Meanwhile, loan write-offs for agriculture and allied activities remained minimal in comparison — despite repeated agrarian distress, crop failures, extreme weather events and stagnant farm incomes.
‘Write-off’ versus ‘waiver’: a misleading distinction
Reacting to the data, Sant Seechewal said the government’s attempt to differentiate between loan write-offs and loan waivers was misleading and designed to confuse the public.
“When the corporates fail to repay loans worth thousands of crores, the amounts are quietly written off in the name of policy. But when farmers fall into debt due to adverse weather, crop losses and the absence of Minimum Support Price, they are denied loan waivers and subjected to endless conditions,” he said.
He also said in practical terms, write-offs offer real financial relief to the corporates, while farmers remain trapped in debt with no permanent policy support.
‘Does the economy run only on the corporates?’
Questioning the double standards adopted by banks and policymakers, Seechewal asked why institutions capable of granting massive relief to corporate borrowers refuse to extend similar compassion to farmers. “Does the country’s economy survive only on the corporates and not on the farmers who feed the nation?”
He also reminded the House and the public that during the COVID-19 pandemic, when industries and businesses were shut down, it was the farming sector that ensured food security and rural employment across the country.
Farmers in debt, data on suicides disappears
Seechewal said despite their contribution, the farmers are continuously being pushed towards distress and suicide under mounting debt. The government has stopped maintaining official data on farmer suicides, further marginalising the agrarian crisis, he said.
He demanded an end to what he described as dual economic standards, where corporates receive policy protection while farmers are left to fend for themselves.
Parliamentary record raises questions
During the Winter Session of Parliament, Seechewal had also questioned the Union Agriculture Minister on farmer suicides and the denial of Minimum Support Price. No satisfactory response was given. Instead, the minister’s remarks questioning the need to maintain such data cast doubts on farmer suicides and appeared to unfairly target the conduct of debt-ridden farmers.
The figures raise uncomfortable questions about who India’s economic policies are designed to protect — and who they leave behind, said Seechewal.
Canada sees India as a reliable partner and wants to deepen trade and cooperation across sectors. (ANI Photo) 
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