100 days in office: Big relief for farmers as CM Vijay waives farm loans up to Rs 75,000

CHENNAI: Tamil Nadu Chief Minister C Joseph Vijay on Monday announced an expansion of the state’s cooperative farm loan waiver scheme, with crop loans of up to Rs 75,000 to be completely waived. Under the revised scheme, loans between Rs 75,000 and Rs 1 lakh will receive a waiver of up to Rs 75,000, while loans above Rs 1 lakh will be eligible for a waiver of up to Rs 35,000.

The expanded relief will provide additional support to more than 1.38 lakh farmers, with the government committing an additional Rs 953.06 crore. The total crop-loan waiver under the scheme now stands at Rs 6,220 crore and covers 13.34 lakh farmers.
Vijay said the government had initially waived agricultural loans of up to Rs 50,000 within 15 days of assuming office in May. The latest expansion was announced as his government marked 100 days in office.

The Chief Minister said the decision followed consultations with farmers’ organisations and was aimed at reducing the financial burden on farmers. He made the announcement in the Assembly under Rule 110.