CM plans to waive farm loans worth Rs.10,000 crore

Bengaluru: CM Kumaraswamy is allegedly planning to waive off farm loans of Rs 10,000 crore, including interest, taken by farmers across the state.

“The loans borrowed by the farmers from district cooperative banks and state cooperatives will be waived along with interest on them, costing the exchequer about Rs 10,000 crore,” a Chief Minister’s Office functionary told a news channel.

The decision on the loan waiver was taken at a meeting chaired by Chief Minister H.D. Kumaraswamy and attended by Co-operation Minister Bandeppa Khashempur, Agriculture Minister N.H. Shivashankara Reddy and officials of various departments.

However the same would be announced on July 5. 

“It is not how many days or months our government survives but what it does during its rule to the people, including farmers and the poor. All stakeholders, especially officials, leaders of the coalition partners, ministers and legislators should work for the state’s development than worry about the government’s fate,” said Kumaraswamy.