27.8 C
New Delhi
Saturday 30 May 2020

Kumaraswamy government’s loan waiver for farmers to cost 34,000 crore

"I have decided to credit the repaid loan amount or Rs 25,000, whichever is less, to each farmer's account," Kumaraswamy said in his budget speech

Editorials

Reforms By Modi Run Into Tired Socialist Criticism

The motley group of right-thinking Indians in this socialist society should not only promote the reforms announced last week but also push every Indian government and political party towards better economics

In India

Lockdown in spirit: Shah asks Modi how to do it

The next phase of lockdown will be described as “lockdown extension in spirit”, remaining stricter only in 11 cities that have nearly 70% of the country’s overall COVID-19 cases

कसाब की पहचान करने वाले पहले गवाह हरिश्चंद्र का निधन

कामा अस्पताल के निकट हरिश्चंद्र को दो गोली लगी थी, जब 10 आतंकवादियों ने इस हमले को अंजाम दिया था, उन्होंने कसाब के साथी इस्माइल को अपने ऑफिस के बैग से मारा था

योगी सरकार 11.50 लाख प्रवासी श्रमिकों को उपलब्ध कराएगी रोजगार

योगी ने दूसरे राज्यों से उत्तर प्रदेश के 26 लाख प्रवासी श्रमिकों की घर वापसी कराई है, श्रमिकों और कामगारों को प्रदेश में ही रोजगार देने का वादा किया है

Bengaluru: Karnataka Chief Minister HD Kumaraswamy today announced a loan waiver scheme for farmers amid farmer suicides and countrywide protests. The waiver, which would cost the state Rs 34,000 crore, would apply to crop loans of up to Rs 2 lakh. Besides, arrears will be waived for defaulters so they can get fresh loans. For this, the Chief Minister said, Rs 6,500 crore has been earmarked in the 2018-2019 budget.

There are incentives for farmers who repaid loans in time. “I have decided to credit the repaid loan amount or Rs 25,000, whichever is less, to each farmer’s account,” Kumaraswamy said in his budget speech.

The relief for the agrarian community was the centrepiece of the maiden budget of the state’s Congress-JD(S) government announced by Chief Minister Kumaraswamy today.

The measures had been cleared in the meeting held by the coordination committee of the Congress and Kumaraswamy’s JD(S) held on Sunday. The committee had also approved irrigation projects worth Rs 1.25 lakh crore.

The farm loan waivers had been high on the agenda of the JD(S) ahead of the elections. Kumaraswamy had promised that he would waive all farm loans within 24 hours of coming to power.

“On the eve of the Karnataka Budget, I’m confident our Congress-JDS coalition Govt will act on our commitment to waive farmer loans & to make farming more profitable. This budget is an opportunity for our Govt. to make Karnataka a beacon of hope for farmers all across India,” Rahul Gandhi tweeted.

The Chief Minister has also proposed to increase power tariff by 20 paise per unit and levy a higher tax on fuel. Petrol prices will go up by Rs 1.14 per litre and diesel by Rs 1.12 per litre.

“I also propose to increase excise duty on Indian made foreign liquor by 4% to raise additional revenue for meeting the budget expenditure,” said Kumaraswamy.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Articles

Tirupati: Where Protector Of Three Worlds Needs Protection

Tirupati temple authorities were considering the liquidation of land-assets and buildings donated by devotees to Lord Venkateswara to help tide over what the management called “COVID-19 related financial crisis” and an inability to pay staff salaries

আম্ফানের আঘাতে চূর্ণ মমতার আস্ফালন

গ্রামবাঙ্গালার বিস্তৃত অংশে শাসক দলের স্থানীয় আধিকারিকদের এতটাই প্রভাব এবং ক্ষমতা যে DBT সত্ত্বেও ভীতিপ্রদর্শন করে নিজেদের কাটমানি বা অংশটুকু তারা ক্ষেত্রবিশেষে আদায় করতে পারে

Paatal Lok: Antidote To Anti-Hindu Propaganda

A Family Man that upholds the Pakistani PoV on Kashmir or the ilk of Leila and Paatal Lok that defames Hinduism cannot be made if nationalist subscribers react wisely

News

Lockdown in spirit: Shah asks Modi how to do it

The next phase of lockdown will be described as “lockdown extension in spirit”, remaining stricter only in 11 cities that have nearly 70% of the country’s overall COVID-19 cases

कसाब की पहचान करने वाले पहले गवाह हरिश्चंद्र का निधन

कामा अस्पताल के निकट हरिश्चंद्र को दो गोली लगी थी, जब 10 आतंकवादियों ने इस हमले को अंजाम दिया था, उन्होंने कसाब के साथी इस्माइल को अपने ऑफिस के बैग से मारा था

योगी सरकार 11.50 लाख प्रवासी श्रमिकों को उपलब्ध कराएगी रोजगार

योगी ने दूसरे राज्यों से उत्तर प्रदेश के 26 लाख प्रवासी श्रमिकों की घर वापसी कराई है, श्रमिकों और कामगारों को प्रदेश में ही रोजगार देने का वादा किया है

For fearless journalism

%d bloggers like this: