Keeping up the promise, Karnataka Chief Minister HD Kumaraswamy coming to the succor of the farming community on Thursday announced waiver of all default crop loans benefitting farmers to the tune of Rs.34,000 crore.
Presenting his maiden budget in the Legislative Assembly, Kumaraswamy said crop loans made up to December 31, 2017 would be waived up in the first stage.
He said the loan amount would be restricted to Rs.2 lakhs. As an encouragement to the non-defaulting farmers, the Chief Minister has decided to credit the repaid loan amount or Rs.25, 000 or whichever is less to each of the farmer's account. UNI