General Budget: Farm loan waived off, Arunachal gets 500 crore rupees

New Delhi, Feb 29 : Union Finance Minister P Chidambaram on Friday announced a complete waiver of loan granted to small farmers saying that all loans granted upto March last year would get the benefit of waiver and the Centre will have to bear a burden of 50, 000 crore rupees due to waiver.

Farmers who have taken loan from the government and co-operative banks will be benefited will now not pay their installments due upto December last year, said Chidambaram.

Chidambaram also announced a special 500 crore rupees package for Arunachal Pradesh.

While tabling the General Budget 2008-09, the Finance Minister said that special provision would be made to develop madrassas. Madarassa development programme will receive over 45 crore rupees.

ANI