Cabinet okays loan waiver of Rs 9.44K cr

Chief Minister H D Kumaraswamy. DH file photo

The state Cabinet on Thursday gave its approval for waiver of crop loans worth Rs 9,448 crore availed of in the current financial year from the cooperative sector.

Chief Minister H D Kumaraswamy, who holds the Finance portfolio, had announced in his reply to the budget proposals 2018-19 that crop loans up to Rs 1 lakh borrowed from the cooperative sector, till July 10, 2018 will be waived.

The Cabinet on Thursday ratified his announcement. Addressing a press conference, after the meeting, Kumaraswamy said the decision will be implemented with immediate effect.

With this, the total crop loan waiver has gone up to Rs 44,000 crore from the original Rs 34,000 crore. The increase in loan waiver quantum will benefit 20.38 lakh farmers. The restriction that crop loan scheme can be availed of by just one member per family has been withdrawn, the chief minister said.

Kumaraswamy said the Cabinet will take up details of waiver of crop loans taken from nationalised banks at its next meeting. The government now proposes to reimburse nationalised banks in two instalments instead of four.

‘Gift’ for people soon

Kumaraswamy announced that he will announce a ‘gift’ for people of Karnataka either on the occasion of Independence day or Ganesha Chathurti. However, he did not reveal the nature of the gift.

Briefing on other decisions of the Cabinet, Cooperation Minister Bandeppa Kashampur said a sub-committee headed by Deputy Chief Minister G Parameshwara, who also holds the Home portfolio, has been constituted to look into the withdrawal of criminal cases filed in various police stations against individuals.

 The state government will recommend to Governor Vajubhai Vala for premature release of 93 convicts lodged in various jails on grounds of good conduct.

The Cabinet gave its approval for procurement of shoes, socks, belts for students studying in government-run residential schools at a cost of Rs 10.36 crore.

 

Liked the story?

  • 2

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry

Comments:

Cabinet okays loan waiver of Rs 9.44K cr

0 comments

Write the first review for this !