Karnataka cabinet approves waves Rs 9448.61 crore farm loans
The Karnataka cabinet today gave its approval to waiving Rs 9,448.61 crore existing farm loans in respect of cooperative banks, Chief Minister H D Kumaraswamy today said.
At today's cabinet meeting, approval has been given to waiving existing crop loans up to Rs 1 lakh borrowed from the cooperative sector, Kumaraswamy said. "It is estimated to be Rs 9,448.61 crore, about 20.38 lakh farmers who have obtained loans up to July 10 this year would benefit from this," he told reporters.
He said there was no shortage of money for the farm loan waiver. During the next cabinet meeting, a decision would be made regarding waiver of farm loan obtained from nationalized banks and modalities were being worked out with the banks, he said.
Kumaraswamy said he would make an announcement either on Independence Day or Ganesh Chaturthi, which will be a 'gift' to farmers and the people of Karnataka.
Kumaraswamy reiterated that all programmes announced in the previous budget by the then chief minister and finance minister Siddaramaiah would continue, even as he dismissed reports about cuts in allocation to schemes like 'Shaadi Bhagya' and 'Mathru Poorna.'
To a question about state governments meeting with Union Minister Nitin Gadkari on the Mekedatu project, he said the state government was working towards getting permission from the central government for the project.
Tamil Nadu is opposed to the Mekedatu multi-purpose (drinking and power) project across the Cauvery which involves building a balancing reservoir with a capacity of about 66 tmcft, near Kanakapura in Ramanagaram district.
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