Karnataka CM HD Kumaraswamy announces to waive farm loan upto ₹2 Lakh in single Installment

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Days after the poll disaster, Karnataka Chief HD Kumaraswamy on Thursday made a big announcement for farmers of the state. The JD(S) and Congress government announced to waive all eligible farm loan in a single installment. In a government order, it was announced that all the eligible farm loan taken from nationalized banks will be waived off in a one go.

The Decision comes after several reports came to the public domain that the money credited into bank accounts of 13,988 farmers which was later withdrawn after several farmers were found ineligible for loans during an audit.

The news, however, rattled the Congress-JD(S) State Government with many affected farmers slammed the Chief Minister saying that he had deposited money only to win votes and withdrew it after losing badly in the national elections 2019.

It should be noted the Chief Minister HD Kumaraswamy days after forming the Government announced partial farm loan waiver. A total of 34000 crores was allotted for the purpose in its inaugural budget session. At that time, it was decided to waive off farm loans up to 2 Lakh in four installments.

However, with the new announcement, the state government has to release about Rs 4,617 crore at one time to complete the process in commercial banks.

‘The government has taken a serious decision on the waiver of commercial banks. The order has been issued to release beneficiaries on the same installment in a single installment’, tweeted Chief Minister HD Kumaraswamy announcing the move.

While Chief Minister is also slated to expand his cabinet on Friday which was earlier scheduled for June 12, Wednesday. The date was postponed following the demise of Veteran Actor and Screenwriter Girish Karnad on Monday.

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