Karnataka Farmers to Benefit from Interest Waiver on Loans in Drought Crisis

Belagavi: In response to the severe drought situation plaguing the state, the Karnataka government has assured a significant relief measure for farmers by waiving off the interest on medium and long-term loans. Chief Minister Siddaramaiah made this announcement during his address in the assembly on the concluding day of the Winter Session this Friday.

"In the wake of the drought in the state, our government has decided to waive off the entire interest for farmers who have availed loans from cooperative banks, provided they repay the principal amount of their medium and long-term loans," Chief Minister Siddaramaiah announced.

The announcement resonated with approval from the Congress members, as evidenced by table-thumping in support of the government's stance in addressing the problems faced by farmers during drought.

However, the BJP MLAs took a stand demanding more extensive relief, asserting that the focus should not solely be on interest waivers but should extend to waiver of the loans.