K'taka seeks Rs 1800 cr reimbursement on farm loan waiver

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Bangalore, Jul 2 (UNI) Karnataka will seek reimbursement of Rs 1800 crore paid to Co-operative banks, which had written off farm loans during the previous JD(S)-BJP coalition regime, Cooperation Minister Laxman Savadi said today.

Speaking to newsmen here today he said the coalition had written off farm loans up to Rs 25,000.

''As the state government had already implemented the farmer's loan waiver, the UPA government's Rs 71,000 crore farm loan waiver scheme did not yield much benefit to farmers in the state.

''About 80 per cent of the state's farmers remained outside the orbit of Union Government's farm loan waiver scheme'' he said.

The minister said about Rs 3500 crore farm loan had been extended to farmers for 2008-09 through Cooperative institutions at a low rate of four per cent interest.

''The state government has decided to slash interest rates further from four to three per cent. This would be announced by Chief Minister B S Yeddyurappa during the monsoon session of the state legislature'' he said.

The minister said eventhough Cooperative movement in the state was 100 years-old, most of the villages still did not have access to Co-operative institutions.

''I have issued directions to this department to bring under all those villages which were still remained deprived from Co-operative movement,'' he said.

Replying to questions he said there were divergent opinions about the implementation of the Vaidyanathan Committee on Co-operative movement, by various cooperative institutions.


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