CM waives interest on farmers' loans

Hikes relief for suicide victims' kin to Rs 5 L

CM waives interest on farmers' loans

The two-day visit of Congress vice-president Rahul Gandhi to the State came to an end with the government doling out various sops to farmers, including waiving off interest on loans taken by them.

Speaking at a rally after participating in a padayatra with Rahul from Maidur to Gudagur in Ranebennur taluk on Saturday, Chief Minister Siddaramaiah said the compensation to families of farmers who have committed suicide will be increased from Rs 2 lakh to Rs 5 lakh.

The chief minister also said that the same amount of compensation would be given to landless farmers. He also increased the pension for the widow of a farmer who committed suicide from Rs 500 to Rs 2,000 per month.

In case a woman farmer commits suicide, a family member can receive the compensation.
The State government will ensure free education up to post-graduation level to children of a farmer who has committed suicide, he added.

The family of deceased farmer will also get free health insurance and reimbursement at both private and government hospital.

Loan waiver

On expected lines, the chief minister waived off complete interest amount on long-term, short-term, midterm and penal interest taken till September 30, 2015.
On October 2, the State government had waived off interest amount of farmers who had taken loans from cooperative societies. 

“As instructed by AICC president, these measures have been taken,” said the chief minister, who also holds the finance portfolio. He also challenged the Union government to waive off at least half of the loan amount taken by the State’s farmers from nationalised banks.


If the Union government strikes off half of the Rs 29,000 crore loan amount, the State government will also try to match the same, said Siddaramaiah.

Action against money lenders    

The chief minister said the State government has in the last four months booked 1,300 cases against private money lenders who were charging exorbitant interest rates. As many as 518 people have been arrested under the Private Money Lending Act.
Within the legal framework, the government is planning to waive off the entire loan of the farmer, if it comes to know that a private money lender is charging interest loan beyond the permissible limits in the Act, he added.

DH News Service

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry