Tamil Nadu CM Vijay announces crop loan waiver for farmers

Chennai, May 25 : Tamil Nadu Chief Minister C. Joseph Vijay on Monday announced a major crop loan waiver scheme for farmers who have availed loans through cooperative banks, offering significant relief to small and marginal farmers across the state.

The announcement was made during a high-level review meeting on crop loan waivers held at the State Secretariat in Chennai under the chairmanship of the Chief Minister.

Agriculture and Farmers Welfare Minister M. Vinod, Cooperation Minister V. Gandhiraj, Finance, Planning, and Development Minister N. Maria Wilson, along with senior departmental officials, attended the meeting.

According to an official statement, the government has introduced a structured loan waiver package to improve the financial condition of small and marginal farmers burdened by agricultural debt.

Under the scheme, marginal farmers who have taken crop loans up to Rs 50,000 through cooperative banks will receive a complete waiver of their outstanding amount.

Loans ranging between Rs 50,001 and Rs 60,000 will receive a waiver of Rs 40,000, while loans between Rs 60,001 and Rs 70,000 will get a waiver of Rs 30,000.

Farmers with loans ranging from Rs 70,001 to Rs 80,000 will receive a relief of Rs 20,000.

For loans between Rs 80,001 and Rs 1 lakh, the waiver amount has been fixed at Rs 10,000, while those with crop loans above Rs 1 lakh will receive a waiver of Rs 5,000.

The government has also announced separate benefits for small farmers.

Crop loans up to Rs 50,000 taken by small farmers will receive a 50 per cent waiver.

Loans between Rs 50,001 and Rs 60,000 will receive a waiver of Rs 20,000, while loans between Rs 60,001 and Rs 70,000 will receive relief of Rs 15,000.

Loans ranging from Rs 70,001 to Rs 80,000 will receive a waiver of Rs 10,000, while loans between Rs 80,001 and Rs 1 lakh will receive a waiver of Rs 5,000.

In addition to small and marginal farmers, the state government has extended relief to large farmers who availed crop loans through cooperative banks.

Eligible large farmers will receive a crop loan waiver of Rs 5,000 under the scheme.

Officials said the initiative is expected to provide substantial financial support to farmers and reduce the debt burden in the agricultural sector.