Tamil Nadu CM Vijay Announces Major Crop Loan Waiver For Farmers, Relief Up To Rs 50,000; How Much Will They Receive?

Tamil Nadu Chief Minister C Joseph Vijay on Monday announced a major crop loan waiver scheme for farmers who have availed loans through cooperative banks, offering significant relief to small and marginal farmers across the state.

Under the scheme, the Tamil Nadu government has announced a waiver of cooperative bank crop loans of up to Rs 50,000 for marginal farmers, while large farmers will receive a relief amount of Rs 5,000.

According to an official statement, the government has introduced a structured loan waiver package aimed at improving the financial condition of small and marginal farmers burdened by agricultural debt. Marginal farmers who have taken crop loans of up to Rs 50,000 through cooperative banks will receive a complete waiver of their outstanding dues.

The scheme is expected to benefit nearly 14.22 lakh farmers across Tamil Nadu and will involve a total government expenditure of Rs 2,044 crore.

How Much Loan Waiver Will Farmers Receive?

For marginal farmers, loans ranging between Rs 50,001 and Rs 60,000 will receive a waiver of Rs 40,000, while loans between Rs 60,001 and Rs 70,000 will get a waiver of Rs 30,000.

Farmers with loans between Rs 70,001 and Rs 80,000 will receive relief of Rs 20,000. For loans ranging from Rs 80,001 to Rs 1 lakh, the waiver amount has been fixed at Rs 10,000. Farmers with crop loans above Rs 1 lakh will receive a waiver of Rs 5,000.

The government has also announced separate benefits for small farmers. Crop loans of up to Rs 50,000 taken by small farmers will receive a 50 per cent waiver.

ALSO READ: Bengaluru Traffic To Worsen As Major Roads Near Shivajinagar Shut For 2 Months; Check Alternate Routes

Loans between Rs 50,001 and Rs 60,000 will receive a waiver of Rs 20,000, while loans between Rs 60,001 and Rs 70,000 will receive relief of Rs 15,000. Loans ranging from Rs 70,001 to Rs 80,000 will receive a waiver of Rs 10,000, while loans between Rs 80,001 and Rs 1 lakh will receive a waiver of Rs 5,000.

In addition to small and marginal farmers, the state government has also extended relief to large farmers who availed crop loans through cooperative banks.

ALSO READ: Delhi-NCR Weather Alert: Dust Storm, Thunderstorms And Rain Likely Amid Heatwave | Key Areas Affected

Eligible large farmers will receive a crop loan waiver of Rs 5,000 under the scheme. Officials said the initiative is expected to provide substantial financial assistance to farmers and help reduce the debt burden in the agricultural sector.