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TN elections 2021: Rs 12,110 crore farm loan waiver announced
India
Published: Saturday, February 6, 2021, 10:01 [IST]
Chennai, Feb 06: A few months ahead of Assembly elections, the AIADMK government in Tamil Nadu on Friday announced waiver of Rs 12,110 crore crop loans availed by 16.43 lakh farmers from cooperative banks. Making the announcement in the state assembly, Chief Minister K Palaniswami said the scheme would come into immediate effect and a Government Order shall be issued while the required financial allocation would be made in the interim budget.
Asserting Iam a farmer too, Palaniswami said it was his first duty to address the grievances of the farming people and ruling party MLAs welcomed his announcement by thunping the desks while the opposition benches were vacant.
6 Comments on this Story
P Narasiman58 days ago
This kind of waiving of loans to anybody is unproductive support and practically a wastage of Tax payers money. There are many farmers in Tamil Nadu who are in a better position to pay back the loan amount availed by them for their crops. Then why not find out the real farmers who are in difficult situations can be helped. Don t make the farmers lazy and also make them habitual defaulters of loan repayment.
Bhaskar 59 days ago
These loan waivers before elections creates moral hazard - why will a farmer even if he is financially able to pay off his loans will ever pay off his loans in the future knowing very well that state government will waive off the loans before the next elections .. These kind of populist moves give incentive to default.
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Tamil Nadu Chief Minister Edappadi K Palaniswami
Tamil Nadu government on Friday announced a Rs 12,110 crore farm loan waiver in the State assembly. A total of 16.43 lakh farmers who availed loans from cooperative banks to benefit.
Making the announcement in the state assembly, Chief Minister K 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.
Targeting the opposition DMK, he said the party had promised two acres of land, but failed to implement.Â