THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan said the government would extend the tenure of the moratorium of agricultural loans. The moratorium will be applicable to loans up to March 31, 2014. He said the loan limit of farmers would be increased by two lakh. The decision was taken in the wake of the present agricultural crisis.

The limit for debt relief will be raised from one lakh to 2 lakh. Loans of commercial banks will be brought under the purview of the debt relief commission. Financial help for damages of crops will be doubled from the present. The special cabinet meet decided to permit Rs 85 crore for damages of crop through natural disasters.

An amount of Rs 85 crore would be released soon to pay compensation for the damages of crops. 54 crore would be allotted from the debt relief fund. Meantime, the reason for the agricultural crisis is the policies of the centre, alleged the chief minister.