CM Vijay announces full crop loan waiver of up to ₹75,000

On the day when his coalition government completed 100 days in office, Tamil Nadu Chief Minister C. Joseph Vijay on Monday announced a full farm loan waiver of up to ₹75,000 for marginal, small, and other farmers – an rise from the waiver of up to ₹50,000 announced earlier.

Making announcements under Rule 110 of the Assembly, Mr. Vijay said those who had obtained loans in the range of ₹75,000 to ₹1,00,000 would receive a maximum waiver of ₹75,000, and those who had taken loans exceeding ₹1 lakh would be given a maximum waiver of ₹35,000.

The Chief Minister stated ₹5,267 crore (of the total waiver amount of ₹5,932.23 crore) had been credited into the bank accounts of 13.34 lakh farmers (out of 14.44 lakh farmers).

“Consequently, there will be an opportunity to receive an additional waiver of up to ₹40,000, over and above the waiver amount already received. This additional crop loan waiver will impose an financial burden of approximately ₹953.06 crore on the administration. Nevertheless, considering that our welfare lies in the welfare of the farmers of Tamil Nadu, this government is providing a total crop loan waiver of ₹6,220 crore to approximately 13.34 lakh farmers,” he stated.