R ARIVANANTHAM
CHENNAI, FEB 6
Tamil Nadu Chief Minister Edappadi K Palaniswami on Friday announced that crop loans availed by farmers from cooperative banks will be written off fully.
The announcement will bail out around 16.43 lakh farmers across the state, who were affected due to corona and the recent unseasonal rains.
The Chief Minister made this announcement under Rule 110 in the Tamil Nadu Legislative Assembly on Friday.
Crop loans of around Rs 12,110 crore borrowed by farmers from cooperative banks will be waived, Palaniswami said, adding that farmers across the state have borne the brunt of cyclones Nivar, Burevi and the unseasonal rainfall during January.
Earlier, the Chief Minister had also announced Rs. 1,117 Crore compensation for the damaged crops, which is expected to benefit around 11 lakh farmers in the state.
In January, Tamil Nadu had received unprecedented rainfall across the state that led to massive crop damage. Paddy crops which were in the stage of harvesting suffered widespread damage due to the rains.
