Siddaramaiah govt waives off farmers’ loans up to Rs 50000

While there had indeed been a demand for farm loan waiver in the state, it had nowhere near been as high-pitched as in some of the other states.”The government appears to be confused over the norms and parameters to be set for the loan waiver”. However, the farm loan waiver would be applicable only to cooperative banks loans, Siddaramaiah said while speaking to news agency ANI. Revenue minister Chandrakant Patil said on Tuesday that they will hold not meetings with the committee, and will continue talking to individual organisations.The loan waiver will forgive debt up to Rs. 2 lakh for small and marginal farmers – those who own up to five acres – and a flat Rs. 2 lakh relief for all other marginal farmers, irrespective of their loan amount, and will pave the way for a total waiver of all agricultural debts to implement another major poll promise of the ruling party.”Farmer leaders have put forth a demand for a special package for farmers who have been regularly repaying crop loans and they wanted to do away with the cap on loan waiver”, the minister said, adding a decision on these demands would be made at the next meeting.Farmers in Karnataka have been seeking compensation from the government for the losses incurred by them after their crops went dry in the last drought. “We will burn the copies of the GR across the state as a protest”. At Rs 36,359 crore, the loan waiver announced by the Yogi government was the biggest at that time by any state. “We will work on it and come up with fresh suggestions”. Maharashtra soon followed with loan waiver of up to Rs 1 lakh.The reports also have it that Siddaramaiah would waive off loans of Rs 8167 crore of 22,000 farmers in Karnataka. To which, a minister on the condition of anonymity said, “The state can waive all the loans, technically, but the financial burden is too much. Hence, leaders from these two districts are staunchly opposing the states proposal”, sources said.