Tamil Nadu Government issues order for waiver of farm loans

AIADMK supremo J Jayalalithaa, after assuming office as Chief Minister signed five files on her first day in office including one on waiver of farm loans, which was one of the key promises made by her party in its manifestor ahead of the Assembly elections on May 16. 

Keeping in line with the promise, the AIADMK government issued an order through the Cooperation, Food and Consumer Protection Department announcing the waiver of outstanding crop loan, medium term (Agriculture) loan and long term (Farm Sector) loan issued to the small and marginal farmers through Cooperative Societies across the state, as on March 31 this year. 

The government order was issued after the government accepted the proposal of the Registrar of Cooperative Societies in this regard. All the medium and short team loans availed of by the small and marginal farmers from cooperative banks to the tune of Rs 5,780 crore will be waived.