Tamil Nadu CM Vijay announces full waiver on farm loans of Rs 75,000

Tamil Nadu Chief Minister C Joseph Vijay has unveiled a significant policy announcement, waiving farm loans up to Rs 75,000 for farmers. This generous gesture also extends to loans ranging between Rs 75,000 and Rs one lakh, with a waiver of up to Rs 75,000. The policy, announced on the CM's 100-day mark in office, demonstrates the government's commitment to supporting farmers despite financial constraints.

Vijay stated that the TVK government will allocate an additional Rs 953.06 crore for farmers, reflecting the state's dedication to their welfare. The Tamil Nadu government's earlier initiative of waiving agricultural loans up to Rs 50,000 within 15 days of forming the government in May has been expanded. Under the new policy, cooperative farm loans up to Rs 75,000 will be entirely waived, loans between Rs 75,000 and Rs 1 lakh will receive a waiver of up to Rs 75,000, and loans exceeding Rs 1 lakh will be eligible for a maximum waiver of Rs 35,000. This policy benefits over 14.44 lakh farmers, according to PTI.