Siddaramaiah govt waives off farmers’ loans up to Rs 50,000

Prime News, Karnataka, Bengaluru, June 21:- Chief Minister Siddaramaiah with an eye on the 2018 Assembly elections, on Wednesday announced that the state government will waive off farmers’ loans up to Rs 50,000 borrowed from government banks. Farmers who have borrowed loans from the government and cooperative banks until June 20, 2017 will benefit from this scheme.

He made this announcement during the Assembly session at Vidhana Soudha, here.

The chief minister’s decision to waive off farmers’ loans up to Rs 50,000 will benefit around 22, 27, 506 farmers in the state. Siddaramaiah is expected to make an official announcement on loan waiver on Thursday.

The much anticipated scheme to waive off farmers’ loans will cost the state exchequer Rs 8,165 crore.

The farmers, to some extent can heave a sigh of relief following the decision taken by Siddaramaiah government. Farmers were facing numerous problems with severe drought situation in the state owing to scanty rainfall.


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