Addressing the Tamil Nadu Assembly, Chief Minister Vijay said a landmark announcement for the farmers will be disclosing of partial loan waiver of loans between ₹75,000 and ₹1 lakh. About 13.34 lakh farmers in the state are likely to get advantage from the scheme.
The announcement is coming as Vijay is about to touch 100 days of his government and it is a noteworthy milestone itself. The crop loan waiver is being marketed as a major measure to boost farmer’s finances when the agriculture sector is under strain due to various problems.
Delivering the speech while speaking at the Assembly, Vijay revealed that it was a decision taken in spite of the financial constraint. He also unveiled new assistance of ₹953.06 crore for farmers, to boost support for the farming populace.
The scheme of crop loan waivers is likely to benefit many farmers with outstanding crop loans in the designated range. The government is moving on the heels of continued worrying over the hiked input costs, agricultural expenses and financial pressure inflicted on the farming community.
Vijay’s declaration also comes as the government of Vijay is turning 100 days into their mark. The milestone brings an opportunity to the administration to mark what has been done so far under it, and give an idea of what to focus on in the coming months.
Lloyd has urged the government to show sensitivity to the farmer and be mindful of the state’s finances. It is expected that the additional financial support given along with the loan waiver, which is worth ₹953.06 crore, will provide the agricultural sector with further support.
The partial waiver will benefit 13.34 lakh farmers as it is expected to be one of the highlights of the government’s first 100 days in office. Hopefully the implementation details and the process in which the eligible farmers can will give a preview of the extent farming community can benefit from the scheme.
This relocation is meant to indicate the government’s interest in promoting the welfare of the farmers and in supporting agricultural activities as it passes to the next level in its administration.