Karnataka Chief Minister Announces Rs 8167 Cr Farm Loan Waiver

Bengaluru: Karnataka chief minister Siddaramaiah has announced Rs 8167 crore the farm loan waiver on Wednesday speaking at state assembly session. All loans obtained by the farmers until June 20, 2017 for agriculture purpose would be waived and as many as 22, 27506 farmers in the state would be the benefited from the new move by the state government.

The loans of the farmers unto Rs 50, 000 would be waived and Rs 8167 crore will turn into a burden for state treasury following the decision by the Karnataka government.

Speaking on the government’s decision, the congress leaders urged the BJP members to pressurize the union government to waive the loans of farmers obtained from nationalized banks in Karnataka immediately. Meanwhile, opposition leader in Karnataka state assembly Jagadish Shettar  said, the BJP succeeded to pressurize and force the government to waive the farmers loan.