Minister rules out further waiver of crop loan

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

He told newspersons here that the loan waiver scheme benefited nearly 1.7 million farmers who had taken loan to the tune of Rs 2,500 crore. ''It is the policy of the JD(S)-BJP coalition Government not to extend the facility of waiving off farm loans in future,'' he said.

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

UNI