Ahead of polls, TN govt announces Rs 12,110 cr farm loan waiver

Chennai, Feb 05: The ruling AIADMK government in Tamil Nadu on Friday announced a Rs 12,110 crore farm loan waiver in the State assembly. A total of 16.43 lakh farmers who availed loans from cooperative banks to benefit.

Making the announcement in the state assembly, Chief Minister K Palaniswami said the scheme would come into immediate effect and the required financial allocation would be made by his government.

He said the AIADMK was the only party that fulfills promises and also comes up with fresh welfare measures.

Targeting the opposition DMK, he said the party had promised two acres of land, but failed to implement.

The CM added that the scheme would come into immediate effect to reduce the burden on debt-ridden farmers who are currently affected by the Covid-19 pandemic, two cyclones in the state since November, and the monsoon.