K'taka Govt to issue order on farm loan waiver by Feb 20

Mysore, Jan 30 (UNI) The Karnataka Government will come out with an order by February 20 regarding waiving farm loans, ending all confusion following Chief Minister H D Kumaraswamy's announcement of loan waiver, Cooperatives Minister G T Deve Gowda said today.

Addressing a meet-the-press programme, organised by the Mysore Reporters Guild here, he assured that the health of cooperative institutions would not be affected by writing off loans of farmers.

About Rs 4,300 crore had been advanced as loan to nearly 18 lakh farmers and the outstanding from the farmers to various cooperative banks in the State stood at Rs 3,319 crore, he added.

Mr Gowda, who assumed office only yesterday and had over 35 years of experience in the cooperation field, assured to look into various aspects of the sector.

Stating that about 10,000 acres of Government land had been encroached upon in and around Bangalore, he recalled the Chief Minister's assurance that the money mobilised by selling such lands could be made use of for the loan waiver. Besides, Central assistance would also be sought, if needed, he added.

The Minister assured that the cooperative sector, which had been facing stiff competition following privatisation and globalisation in the country, would be strengthened. It was also necessary to unite cooperators in the State to ensure that the sector became self-sufficient.

Earlier, he released the Mysore Reporters Guild diary.

UNI