Karnataka Budget: Farmers disappointed as CM won’t waive off loans

Instead, they have time till March 31 to repay the loan

Bengaluru: Chief Minister Siddaramaiah who was expected to waive off farmers' loan has disappointed the farming community. He announced that he will not waive off farm loans, instead, the farmers have been given time till March 31 to repay the loan.

With Assembly elections are around the corner, many had expected Siddaramaiah to waive off farmers' loans. Also, the state is reeling under severe drought. Besides, he had even stated that he had written a letter to the Central government seeking to waive off the loan. But Siddaramaiah has stated that farm loans will not be waived off.

However, the farmers will have time till March 31, 2017 to make repayment.

Besides, the budget hopes to give RS 13,500 crore loan to 25 lakh farmers at zero per cent interest.

Considering the success of Krishi Bhagya scheme, it will be extended to coastal and Malenadu taluks as well in 2017-18 and Rs 600 crore has been earmarked for the purpose.

Besides, farmers who have adopted techonology in their farming will be provided with financial assistance and Rs 100 crore has been set aside for the purpose. Totally, Rs 5,080 crore has been earmarked for agriculture department.

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