100% Loan Waiver Up to ₹75,000: Vijay's Big Gift to Farmers
What Happened
Tamil Nadu Chief Minister C. Joseph Vijay announced an expanded crop-loan waiver scheme for farmers. Cooperative crop loans of up to ₹75,000 will be fully waived, while loans between ₹75,000 and ₹1 lakh will get a waiver of up to ₹75,000. Loans above ₹1 lakh will receive a ₹35,000 waiver.
Key Takeaways
The move adds ₹953.06 crore in fresh relief and takes the state's total crop-loan waiver package to about ₹6,220 crore, benefiting 13.34 lakh farmers. The government says the scheme is aimed at reducing debt burdens and boosting agricultural activity despite financial constraints.