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Karnataka CM announces Rs 8,000 cr farm loan waiver - The News
Posted
June 22, 2017
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June 22, 2017
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4:39Now PlayingAhead of the Karnataka state assembly elections, Chief Minister Siddaramaiah announced a loan waiver of Rs 8,000 crores in the Legislative Assembly. The relief package is applicable to farmers who have taken short-term loans up to rupees Rs 50,000 from co-operative banks.
This would make Karnataka the fourth state to waive off farmers’ loans after Uttar Pradesh, Maharashtra and Punjab. The move is expected to benefit as many as 22 lakh farmers. Political analysts have suspected this move as a bid to woo voters ahead of the upcoming state elections.
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