Tamil Nadu Chief Minister C. Joseph Vijay on Monday announced an expanded farm loan waiver of up to ₹75,000 for marginal, small and other farmers as his coalition government completed 100 days in office, reports The Hindu.
The announcement was made under Rule 110 of the Tamil Nadu Assembly. The revised waiver increases the earlier maximum relief of ₹50,000 by ₹25,000.
Vijay said farmers who had taken loans between ₹75,000 and ₹1 lakh would receive a maximum waiver of ₹75,000.
Those with loans exceeding ₹1 lakh would be eligible for a maximum waiver of ₹35,000.
According to the Chief Minister, ₹5,267 crore of the total ₹5,932.23 crore waiver amount has already been credited to the bank accounts of 13.34 lakh farmers out of 14.44 lakh beneficiaries.
The revised decision means eligible farmers could receive an additional waiver of up to ₹40,000 over the relief they have already received.
Vijay said the additional crop loan waiver would place an estimated financial burden of ₹953.06 crore on the state government.
Despite the additional expenditure, the government has decided to provide a total crop loan waiver of ₹6,220 crore to approximately 13.34 lakh farmers.
The Chief Minister said the decision was guided by the government’s commitment to the welfare of Tamil Nadu’s farming community.
