Tamil Nadu govt announces Rs 12,110 crore farm loan waiver

Ahead of the upcoming assembly election in Tamil Nadu, The AIADMK government on Friday announced a waiver of Rs 12,110 crore for farm loans taken from cooperative banks.

Chief Minister EK Palaniswami said the decision was taken as farmers suffered huge losses due to the Covid-19 pandemic and two cyclones.

Palaniswami said that 16.43 lakh farmers will benefit from the farm loan waiver and added that this would help in reviving farming in Tamil Nadu. 

He added that the AIADMK was the only party that fulfills promises and also comes up with fresh welfare measures.