Chennai: In what comes as a happy news for farmers, Chief Minister Edappadi K Palaniswami today announced that farm loans that were obtained from the cooperative banks will be waived off.
Making the announcement in the Assembly under the Rule 110, Palaniswami said that farm loans worth Rs 12,110 crore of 16.43 lakh farmers will be waived off.
Palaniswami said that farmers who were affected by coronavirus impact, cyclone and incessant rains will be benefitted by this.
The Chief Minister had also earlier announced Rs 1,117 crore compensation for the damaged crops, which is expected to benefit around 11 lakh farmers.
“Instead of the usual 10.2 mm rainfall in January, there has been 108.7 mm rainfall so far. Due to this, the general public and farmers in Cuddalore, Thanjavur, Tiruvarur, Nagapattinam, Pudukkottai, Sivaganga, Ramanathapuram, Thoothukudi, Tirunelveli, Tenkasi, Villupuram, Kallakurichi and Tiruvallur districts have been affected,” Palaniswami had said in a statement.
He had also instructed officials to ascertain the losses incurred by the farmers on a war footing. “This government will take steps to grant compensation to all farmers affected by the rains,” he added.