TN CM announces full waiver of crop loans to marginal farmers

Tamil Nadu Chief Minister C Joseph Vijay has announced a complete waiver of cooperative bank crop loans for 14.22 lakh farmers, entailing an additional Rs 2,044 crore expenditure.

Tamil Nadu Chief Minister C Joseph Vijay on Monday announced complete waiver of cooperative bank crop loans of up to Rs 50,000 availed by marginal farmers across the state and up to Rs 5,000 to large farmers.

The gesture would benefit 14.22 lakh farmers in the state and would entail an additional expenditure of Rs 2,044 crore to the government, he said.

The waiving of crop loans obtained by farmers was among the numerous poll promises made by Vijay, the TVK chief, in the run up to the April 23 Assembly election.

''Considering the current financial position and financial resources of the state government, and in the present difficult situation, the Chief Minister has ordered the waiver of crop loans obtained by farmers from cooperative banks from May 1, 2025 to February 28, 2026,'' a government release said.

A crop loan waiver of Rs 5,000 will be provided to other large farmers who have taken crop loans through cooperative banks. ''This crop loan waiver will be of great benefit to farmers who wish to take loans for the upcoming cultivation season,'' the release quoting the Chief Minister said.

The government announced waiver for other farmers too.