Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Policy/  Karnataka plans farm loan waiver to mark Rahul Gandhi’s visit
BackBack

Karnataka plans farm loan waiver to mark Rahul Gandhi’s visit

A detailed announcement would be made by chief minister Siddaramaiah before Rahul Gandhi leaves the state

Congress vice-president Rahul Gandhi in Bengaluru on Friday. Photo: AFPPremium
Congress vice-president Rahul Gandhi in Bengaluru on Friday. Photo: AFP

Bengaluru: The Congress-led Karnataka government is likely to announce a waiver of interest on some farm loans, a one-time settlement of bank loans for farmers facing notice from banks and a relaxation in compensation criteria for the kin of farmers who committed suicide. The announcement, expected shortly, is to mark the visit of Congress vice-president Rahul Gandhi, who is touring distressed farmlands in Karnataka on Friday and Saturday.

After arriving at Bengaluru on Friday, Rahul Gandhi met with select leaders of the Congress to discuss the state’s agricultural crisis, before he left to meet the family of Lokesh, a farmer who committed suicide on Thursday in Mandya district, about 100km from Bengaluru.

The state is considering the suggestions discussed in the meeting, and a detailed announcement would be made by chief minister Siddaramaiah before Rahul Gandhi leaves the state, said Mahadeva Prasad, minister of co-operation in the Karnataka government. “Whatever the overdue the farmers have, if they repay the principal amount, we can waive off the interest, like a one-time settlement. And if any farmers has cooperative (banks) loans, that can be waived off," he said.

Rahul Gandhi, according to Prasad, also suggested increasing the compensation paid to families for farmer suicides. He mentioned that Telangana had increased the compensation amount from Rs1.5 lakh to Rs6 lakh last month.

Rahul Gandhi told reporters that he had discussed with the chief minister a policy to tackle the agricultural crisis in the state. “It will be announced soon," he said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 10 Oct 2015, 12:41 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App