MInister rules out further waiver crop loan

Bangalore, May 31 (UNI) Karnataka Cooperatives Minister G T Devegowda today ruled out further extension of crop loan waiver scheme as it would affect the banking and cooperative set up in the state.

He told newsmen here that the loan waiver scheme benefited nearly 1.7 million farmers who had taken loan to the tune of Rs.2500 crore. "Now it is the policy of JD(S)-BJP coalition government not to extend the facility of waiving off of farm loans in future," he said. Today was the last day of the waiver scheme.

Stating that the department had made a recovery of 78 per cent in crop loans he said the government has already released Rs 800 crore towards revival the cooperative institutions as part of a package.

UNI