Farm loan waiver may cost Karnataka Rs 12,000-cr, hit development works

coastaldigest.com web desk
May 24, 2018

Bengaluru, May 24: If chief minister H D Kumaraswamy goes ahead with the farm loan waiver plan, it may cost Karnataka dear and hit the development works, according to economists.

Prof. R S Deshpande, senior economist and honorary visiting professor at the Institute for Social and Economic Change (ISEC), Bengaluru, opines that the cost of the proposed loan waiver to the state exchequer would be roughly to the tune of Rs 12,000 crore.

“The figure on the actual impact could go up as we still need to get numbers from commercial banks on the outstanding loans to such farmers (could be about 8 lakh of them),” he says.

“The immediate impact would be that the amount would get reduced from the state's expenditure on development. This may not be the best thing at the moment,” he adds.

Prof Deshpande says that the Karnataka government has already accumulated huge debt and servicing this will alone take a huge share of the state’s revenue every year.

He calls it a result of the failure of the state’s agriculture policy that allowed loans to get accumulated and not taking adequate correctives during crop failures and farmers’ distress.

"That is one reason farmer suicides continue in the state and it is estimated that about 10 farmers commit suicide everyday in the state,” he laments.

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News Network
April 11,2024

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BJP MLA Arabail Shivaram Hebbar’s son Vivek Hebbar on Thursday, 11 April, joined the Congress party along with his supporters at Banavasi in Uttara Kannada district.

After quitting the BJP, Vivek Hebbar joined the party in the presence of state Congress vice president and former MLC Ivan D’Souza and other local party leaders.

Speculations have been rife about his father Shivaram Hebbar, an MLA from the Yellapur Assembly segment, also planning to join the Congress, ever since he did not turn up for voting during the polls to four seats of the Rajya Sabha from Karnataka held on 27 February.

The senior Hebbar’s absence from voting, despite a party whip, had caused embarrassment to the BJP. He had, however, later attributed his absence to poor health.

The BJP had also issued notice to him, which he responded to.

Shivaram Hebbar had recently met Deputy Chief Minister and state Congress chief DK Shivakumar but claimed that the meeting was about water issues in his Assembly segment.

The senior BJP leader was earlier with the Congress. He was among 17 Congress-JD(S) legislators, who had quit from their parties, which ultimately led to the collapse of the then HD Kumaraswamy-led coalition government in July 2019.

Shivaram Hebbar had subsequently won the by-poll on a BJP ticket and served as a minister in the then government of the saffron party.

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News Network
April 24,2024

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Campaigning for 14 Lok Sabha seats in Karnataka going to polls in the first phase on April 26 will come to an end on Wednesday evening.

A total of 247 candidates -- 226 men and 21 women -- are in the fray for this round of voting in most of the southern and coastal districts.

It is a straight electoral contest between the ruling Congress and the BJP-Janata Dal (Secular) combine in the State.

While the Congress is contesting in all 14 seats, BJP has fielded nominees in 11, and its alliance partner JD(S) in three -- Hassan, Mandya and Kolar.

Besides the three, the segments where elections will be held on Friday are: Udupi-Chikmagalur, Dakshina Kannada, Chitradurga, Tumkur, Mysore, Chamarajanagar, Bangalore Rural, Bangalore North, Bangalore Central, Bangalore South and Chikkballapur.

The intense campaigning for the past about a month saw Prime Minister Narendra Modi and Home Minister Amit Shah leading from the front for the BJP, holding rallies and roadshows. BJP President J P Nadda, some Union Ministers and Goa Chief Minister Pramod Sawant too pitched in.

Veteran BJP leader and former Chief Minister B S Yediyurappa and the party's state president B Y Vijayendra also campaigned extensively.

Congress president M Mallikarjun Kharge, senior leaders Rahul Gandhi and Priyanka Gandhi, Chief Minister Siddaramaiah and Deputy Chief Minister D K Shivakumar and Telangana Chief Minister A Revanth Reddy were among the prominent names who led the charge for the party.

And for the JD(S), it was the 90-year-old party patriarch and former Prime Minister H D Deve Gowda and former Chief Minister H D Kumaraswamy, who led the campaign.

Chikkaballapur has a maximum number of 29 candidates, followed by 24 in Bangalore Central and Dakshina Kannada has the least number - nine.

Kumaraswamy from Mandya, his brother-in-law and noted cardiologist C N Manjunath from Bangalore Rural on a BJP ticket, erstwhile Mysuru royal family scion Yaduveer Krishnadatta Chamaraja Wadiyar from Mysore, also from the BJP, and state Congress President Shivakumar's brother and MP D K Suresh from Bangalore Rural, are among the prominent candidates in the fray in the first phase.

The state has a total of 28 Lok Sabha segments. The remaining 14 constituencies, mostly in the northern districts, will go to polls on May seven.

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News Network
April 26,2024

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Mangaluru, Apr 26: Voting underway in Dakshina Kannada Lok Sabha constituency amidst tight security, with voters exuding enthusiasm to cast their franchise, many of them for the first time.

The constituency registered an impressive 30.96% voter turnout by 11.35 am. 

Voters are bearing the scorching sun while stepping out to exercise their franchise as heat wave is sweeping through the state. 

Candidates, elected representatives and bureaucrats were among the early voters in the seat. 

Congress candidate Padmaraj R, who reached the booth number 179 at Kapitanio along with his family, cast his vote. 

Speaker of Karnataka legislative assembly U T Khader arrived at booth number 103 at Boliyaru government school of Ullal, along with his wife, daughter and cast his vote standing in queue.

Incumbent MP and BJP leader Nalin Kumar Kateel cast his vote at St Aloysius School near Ladyhill.  

Details to follow.

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