Ahead of Assembly polls, Tamil Nadu govt announces Rs 12,110 cr farm loan waiver

Ahead of the assembly elections, Tamil Nadu Chief Minister Edappadi K Palaniswami on Friday announced to waive off Rs 12,110 crore farmers' loans.

Ahead of the assembly elections, Tamil Nadu Chief Minister Edappadi K Palswami on Friday announced to waive off Rs 12,110 crore farmers' loans.

The move will benefit 16.43 lakh farmers who had taken loans from cooperative banks.

Speaking in the state Assembly, Palswami said that the decision has been taken keeping the struggle of farmers in mind who have suffered from both the COVID-19 pandemic and natural calamities.

"Farmers demanded farm loan waiver. Considering their demand, Rs 12,110 crore loans of 16.43 lakh farmers from cooperative banks are being waived off. I am a farmer too and I know their struggle. Considering their struggle, this step is taken. This will be immediately implemented," the Chief Minister said.

He said the AIADMK government is continuously launching schemes in the interest of farmers.

Palswami emphasised that the AIADMK government has transferred Rs 1,714 crores to farmers' bank accounts directly without the central government's assistance and their funds.

"Farmers are the backbone of our country. Our leader Jayalalithaa gave more importance to the farmers and started various schemes for them. Now, we are launching schemes for farmers," he said.

( With inputs from ANI )