Bengaluru, Aug 10: The Karnataka Cabinet gave its approval for waiver of crop loans worth Rs Rs 9,448 crore availed of in the current financial year from the cooperative sector.
Addressing a press conference, after the meeting, Kumaraswamy said the decision will be implemented with immediate effect.
With this, the total crop loan waiver has gone up to Rs 44,000 crore from the original Rs 34,000 crore. The increase in loan waiver quantum will benefit 20.38 lakh farmers. The restriction that crop loan scheme can be availed of by just one member per family has been withdrawn, the chief minister said.