Updated Feb 05, 2021 | 13:09 IST
Chief Minister K Palaniswami said the AIADMK was the only party that fulfills promises and also comes up with fresh welfare measures. Chief Minister EK Palaniswami | File image | Photo Credit: PTI
Chennai: The AIADMK government in Tamil Nadu on Friday announced waiver of Rs 12,110 crore farm loans availed by 16.43 lakh farmers from cooperative banks.
Making the announcement in the state assembly, Chief Minister EK Palaniswami said the scheme would come into immediate effect and the required financial allocation would be made by his government.
He said the AIADMK was the only party that fulfills promises and also comes up with fresh welfare measures.
Tamil Nadu Chief Minister E Palaniswami announced farm loan waiver (File)
Chennai:
Farm loans taken by over 16 lakh farmers in Tamil Nadu will be waived, said the AIADMK government in the state where election to the legislative assembly will be held this year. The total amount to be waived is Rs 12,110 crore for farm loans taken from cooperative banks, Chief Minister E Palaniswami told the assembly today. It is important to help farmers revive farming, said Mr Palaniswami, citing crop loss and hardship to farmers due to the pandemic, two successive cyclones and unseasonal rain.
The waiver will be applicable immediately and funds will be kept aside from the government s wallet to fund it, Mr Palaniswami said.