Crop Loans Up to ₹75,000 to Be Fully Waived: CM Vijay Announces New Relief

Chennai: Chief Minister Vijay has announced a major crop loan waiver for farmers in Tamil Nadu. Under a statement made in the Assembly under Rule 110, he said crop loans of up to ₹75,000 will be completely waived.

According to the announcement, farmers who have taken crop loans of up to ₹75,000 will receive a full waiver. Those with loans of up to ₹1 lakh will receive a waiver of ₹75,000, while farmers with loans above ₹1 lakh will receive a waiver of ₹35,000.

Speaking in the Assembly, Chief Minister Vijay said agriculture is one profession that serves people across differences of caste, religion, race and language. He stressed that countries that protect and support farmers are better positioned to ensure the well-being and prosperity of their people.

The Chief Minister said that although the TVK government assumed office amid financial challenges, an order was issued on May 25 to waive crop loans of up to ₹50,000 taken by small, marginal and other farmers, with the aim of reducing their financial burden.

Following requests from various farmers` organisations, the government reviewed the matter and decided to expand the loan waiver.

Under the revised announcement, farmers with crop loans of up to ₹75,000 will receive a complete waiver. Those who have borrowed up to ₹1 lakh will receive a waiver of ₹75,000, while those with loans exceeding ₹1 lakh will receive a waiver of ₹35,000.

The additional waiver will benefit 2,38,264 farmers who have outstanding crop loans between ₹75,000 and ₹1 lakh. The additional crop loan waiver is expected to impose an extra financial burden of ₹953.06 crore on the state government.

The Chief Minister also said that the government has provided a total crop loan waiver of ₹6,220 crore to 13.34 lakh farmers, stating that the welfare of Tamil Nadu`s farmers remains a key priority.