In a huge solace to the farm sector:Rs 34,000 crore farm loan waiver scheme

Bengaluru: Kumaraswamy acts on  his pre poll promises to waive Farmers Loan in the State of Karnataka.HD Kumaraswamy had promised to waive all type of crop loans after  24 hours of formation of his full fledged Cabinet. Towards his premise that made in the name of farmers got shaped after his govt.’s declaration of Rs 34000 crore farm loan waiver scheme.

It seems in the world of False Promises in Indian Politics, after a long period in democratic India  such savior  act of any political party to fulfill promises made  during the time of election absolutely a new lesson for all the Political Parties to learn  in India including the ruling Union Government.

In a huge solace to the farm sector, the Chief Minister of Karnataka promulgated a huge RS 34000 crore farm loan waiver scheme in the spinster budget of the Congress-JDS alliance Government in Karnataka.

The Coalition Govt’s Chief Minister ,HD Kumarswamy urged, “Due to this crop loan waiver scheme, farmers will get the benefit of Rs 34,000 crore,”

This is absolutely a needed step taken by the Chief Minister of Karnataka eyeing towards his promises made to debt ridden farmers during the last Assembly Election in the state.

Also to avoid financial crisis and burden  on the Exchequer, THE Chief minister also announced certain financial revamp like increase in the rate of Tax in petrol and diesel along with 4 percent additional excise duty on Indian-Made Liquor.

On this newly refurbished Farm Loan waiver Scheme ,Mr Chief Minister also told,  “However, even though the people of the state have not blessed a single party government, I have been provided with a good opportunity to form a coalition government and to work as chief minister of that coalition,”

The Govt. also made up it’s mind to waive completely all defaulted crops loans of the Farmers made up to 31 December 2018.

All Executives of Co operative sectors and families of Government official including Farmers who have paid income tax for 3 previous consecutive years shall be not benefitted in this Farm loans Waiver Scheme of Kumaraswamy Government.


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