Karnataka Government Keep its Promise, Announces 34,000 cr loan waivers to Farmers

July 05

Keeping up the promise Karnataka Chief Minister H D Kumaraswamy coming to the succor of the farming community on Thursday announced waiver of all default crop loans benefiting farmers to the tune of Rs.34,000 crore.
Presenting his maiden budget in the Legislative Assembly, Mr Kumaraswamy said crop loans made upto December 31, 2017 would be waived up in the first stage.

He said the loan amount would be restricted to Rs.two lakhs As an encouragement to the non defaulting farmers, the Chief Minister has decided to credit the repaid loan amount or Rs.25,000 or whichever is less to each of the farmer’s account.

The BJP which fell short of 111 Mark in the state was unable to form the Government after which congress and JD (S) joined hands with Congress to form the Government in the state.