MP CM announces loan interest relief for farmers in Independence Day speech

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Monday said his government will pay interest on loans of those farmers who did not repay in the belief that the loan waiver promise of the previous Congress dispensation would benefit them.

Addressing the Independence Day function in Motilal Nehru Stadium here, he said the move will give relief to farmers.

''The loans of several farmers were not waived despite the previous government promising it. The interest on these loans continued to grow. Such loan interest amounts will be deposited by my government so that farmers get relief,'' he said.

The Congress had promised farm loan waiver ahead of the 2018 Assembly polls, and the BJP has been alleging that several farmers stopped repaying amounts believing they would be covered in this scheme.

Announcing a diversification plan in the agriculture sector, the CM said farmers and their private partners can engage in cultivation of oil seeds and medicinal plants, though this move will not cover growing of rice and wheat.

The state has recorded economic growth of 19.74 per cent as capital expenditure had increased by 45 per cent in the last two years, the CM said in his speech.

Assembly polls are likely to be held in MP late next year.