Farm loan waiver will help only defaulters: CM

Farm loan waiver will help only defaulters: CM

Farm loan waiver will help only defaulters: CM

Chief Minister Siddaramaiah on Monday said farm loan waiver would help only defaulters and not honest farmers who have repaid loans.

Speaking to journalists during his visit to the city to take part in 28th National Survey Day, Siddaramaiah said farmers of the state have borrowed loans of Rs 42,000 crore from commercial banks and nationalised banks and Rs 10,000 crore from co-operative banks. The total farm loan availed of by the farmers in the state is Rs 52,000 crore.

The local recovery of co-operative banks is 90% in the state. The loan waiver will benefit only defaulters and not those who have repaid the loans promptly. “So, we want the Centre to waive crop loans so that majority of farmers would benefit from it.

Our goal is to help all farmers of the state and not just a section of the farming community.”