MUMBAI: The Maharashtra government on Saturday announced it would spend ₹34,022 crore to write off farm loans, a decision that would help 89 lakh farmers in debt across the state.
The loan waiver, which chief minister Devendra Fadnavis said was the “highest by any state in India’s history”, will cover 65% of all farmers in Maharashtra. Of this, loans of 40 lakh farmers will be completely written off.
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Tagged banking, debt, fadnavis, farmer, loan waiver, mumbai, politics
BENGALURU: Karnataka will waive cooperative bank loans to farmers, becoming on Wednesday the latest state to offer a write-off amid growing farm unrest in the country.
“Loans worth ~8,165 crores will be waived, benefitting 22,27,506 farmers across state,” tweeted chief minister Siddaramaiah. Loans up to ~50,000 taken till June 20 will be waived.
The partial waiver is expected to bring relief to farmers in a state reeling under three consecutive years of drought. Sowing in the previous year was down by about 40%, according to the Karnataka Agricultural Prices Commission.
CHANDIGARH: Punjab chief minister Amarinder Singh announced on Monday the government will write off up to ₹2 lakh debt of each of its small and marginal farmers, a programme that he said would provide “double” the relief announced by Uttar Pradesh and Maharashtra.
Punjab has around 18.5 lakh farmers of which 10.25 lakh have less than 5 acres of land and are classified under small and marginal category.
8.5 lakh farmers in state owe a (crop) loan of ₹2 lakh and 1.75 lakh who owe more would also get a waiver of ₹2 lakh,” the CM announced on Monday.
By way of calculation, it would cost the state ₹20,500 crore.
“The road map for waiver and total funds required would be announced in tomorrow’s budget by (finance minister) Manpreet Badal,” the chief minister said.
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Source: Hindustan Times
