Tamil Nadu CM Vijay Announces Crop Loan Waiver for Marginal Farmers
TN: CM Vijay waives crop loans up to Rs 50,000 for marginal farmers
Image: Asianet Newsable
Tamil Nadu Chief Minister Vijay has announced a waiver of crop loans up to ₹50,000 for marginal farmers borrowing from cooperative banks, benefiting approximately 1.42 million farmers. The initiative will cost the state government around ₹2,044.46 crore and is part of the government's election promise.
- 01The loan waiver will benefit 1,422,000 marginal farmers, with an estimated government expenditure of ₹2,044.46 crore.
- 02Farmers with loans below ₹50,000 will receive a full waiver, while those with larger loans will receive graded relief.
- 03The scheme covers loans taken between May 1, 2025, and February 28, 2026.
- 04Larger farmers will receive a relief of ₹5,000 for their loans through cooperative banks.
- 05The announcement follows a review meeting with state ministers and officials to discuss the loan waiver.
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On Monday, Tamil Nadu Chief Minister Vijay announced a significant crop loan waiver for marginal farmers, providing full waivers for loans up to ₹50,000 obtained from cooperative banks. This initiative is expected to benefit approximately 1.42 million farmers and will incur an additional expenditure of ₹2,044.46 crore for the state government. The Chief Minister emphasized that this waiver aligns with the government's election promises. For small farmers with loans exceeding ₹50,000, a graded relief structure will be implemented, offering varying amounts based on loan size. The scheme covers loans taken from May 1, 2025, to February 28, 2026. The announcement was made following a review meeting involving key ministers and officials, highlighting the government's commitment to supporting the agricultural sector.
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The crop loan waiver will alleviate financial burdens for marginal farmers in Tamil Nadu, enhancing their economic stability.
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