Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Needmore seats to Win
Needmore seats to Win
2-min read

Karnataka Cabinet Approves over Rs 9,440 Crore Crop Farm Loan Waiver

Chief Minister H D Kumaraswamy said that at Saturday's cabinet meeting, approval has been given to waiving existing crop loans up to Rs 1 lakh borrowed from the cooperative sector.


Updated:August 11, 2018, 8:54 AM IST
Karnataka Cabinet Approves over Rs 9,440 Crore Crop Farm Loan Waiver
File photo of Karnataka chief minister HD Kumaraswamy. (PTI)
Bengaluru: The Karnataka cabinet on Saturday gave its approval to waiving Rs 9,448.61 crore existing farm loans in respect of cooperative banks, Chief Minister H D Kumaraswamy said.

At Saturday's cabinet meeting, approval has been given to waiving existing crop loans up to Rs 1 lakh borrowed from the cooperative sector, Kumaraswamy said.

"It is estimated to be Rs 9,448.61 crore, about 20.38 lakh farmers who have obtained loans up to July 10 this year would benefit from this," he told reporters.

He said there was no shortage of money for the farm loan waiver.

During the next cabinet meeting, a decision would be made regarding waiver of farm loan obtained from nationalised banks and modalities were being worked out with the banks, he said.

Kumaraswamy said he would make an announcement either on Independence Day or Ganesh Chaturthi, which will be a 'gift' to farmers and the people of Karnataka.

He hit out at the BJP for its continued attack against him on farm loan waiver issue and asserted that his government was committed to the betterment of people and farmers.

Kumaraswamy reiterated that all programmes announced in the previous budget by the then chief minister and finance minister Siddaramaiah would continue, even as he dismissed reports about cuts in allocation to schemes like 'Shaadi Bhagya' and 'Mathru Poorna.'

Appealing to farmers not to commit suicide, the chief minister assured them that his government was there to 'protect' them.

"It is our priority," Kumaraswamy said.

To a question about state governments meeting with Union Minister Nitin Gadkari on the Mekedatu project, he said the state government was working towards getting permission from the central government for the project.

He said government was also trying to convince the chief minister and the Tamil Nadu government along with farmer leaders there as the project would benefit both states.

Tamil Nadu is opposed to the Mekedatu multi-purpose (drinking and power) project across the Cauvery which involves building a balancing reservoir with a capacity of about 66 tmcft, near Kanakapura in Ramanagaram district.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Ahona Sengupta
Read full article
Next Story
Next Story

Also Watch


Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results