The Tamil Nadu government has made a significant announcement taking a relief step for the farmers of the state. Under this, the crop loan taken from the cooperative bank of the state has been waived. Tamil Nadu Chief Minister Edappadi K Palaniswamy announced that the crop loan taken from the cooperative banks would be forgiven. About 16.13 lakh farmers will benefit from this.
The Chief Minister made this announcement under Rule 110 in the State Legislative Assembly on Friday. The Chief Minister said that the crop loan of Rs 12,110 crore taken by the farmers from the cooperative banks of the state will be waived.
The Chief Minister said that due to cyclonic storms (Nivar), Burevi, and heavy rains in the state, the situation of the farmers is in bad shape, which is being decided.
State Chief Minister Edappadi Palaniswami said that loans of farmers taken from cooperative banks of the state would be waived. The Chief Minister had also said earlier that an amount of Rs 1,117 crore will be given as compensation for the damaged crops, which is expected to benefit about 11 lakh farmers.
