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karnataka farm loan waiver only for loan from Karnataka bank

Karnataka, Bengaluru: The Karnataka state Chief Minister Siddaramaiah has taken a big step for the farmers to declare their debt waiver. On Wednesday, the Chief Minister announced to forgive the short term loan upto Rs. 50 thousand of farmers. The Karnataka state will spend Rs 8,167 crore to extend this benefit of the crop loan waiver. This will benefit to around 22.27 lakh farmers of the state.

After the debt waiver of the farmers by BJP states, the pressure of loan forgiveness was also increasing on CM Siddaramaiah. However, only those farmers will be benefited who have taken loan from Karnataka Bank only.

Rahul Gandhi had appealed

Rahul Gandhi praised the governance of Siddaramaiah in the party meeting a few days ago, saying the BJP had neglected the farmers. Now it is necessary for the Government of Karnataka to help the farmers. I am confident that CM here helps them by listening to problems of farmers. Siddaramaiah wrote a letter asking Prime Minister Narendra Modi and Finance Minister Arun Jaitley to forgive those loans which farmers of Karnataka have taken from nationalized banks. It is 80% of the state's total debt of Rs 50,000 crore. He had said that he was ready to forgive the loan from cooperative banks by the farmers.