Chennai, May 26:
In a major relief measure for the agricultural community, Tamil Nadu Chief Minister Vijay on Monday announced a comprehensive farm loan waiver scheme targeting small and marginal farmers across the State.
The decision was taken following a high-level meeting chaired by the Chief Minister at the State Secretariat, attended by Agriculture and Farmers Welfare Minister R Vinod and senior officials. The meeting focused on finalising the modalities of the scheme amid ongoing financial constraints.
According to an official release, the loan waiver will benefit approximately 14,22,555 farmers who have availed loans from cooperative banks. The State government is expected to incur an additional annual financial burden of Rs 2,044.46 crore due to the scheme.
The waiver applies to crop loans availed between May 1, 2025, and February 28, 2026. Despite the tight fiscal situation, the government has rolled out a structured relief plan based on loan amounts and farmer categories.
The government stated that this additional waiver would also provide indirect support to larger farmers by easing credit access ahead of the upcoming cultivation season.
The announcement is expected to provide significant financial relief to farmers while boosting agricultural activity in the State.