Tell Modi to waive 50 pc of 29k crore farm loan: CM to BSY

Mandya, Oct 16: Chief Minister Siddaramaiah has challenged former Chief Minister B S Yeddyurappa to convince Prime Minister Narendra Modi to waive at least 50 per cent of the Rs 29,000 crore farm loan.

After launching the works on the Yediyuru-Mandya State Highway 84 at Keregodu village in the taluk, he said, “Let Yeddyurappa, who is busy taking out Raitha Chaithanya Yatre, use his influence to convince the prime minister to waive farm loan.”

The State government has taken steps to waive three per cent interest on long-term loan of the farmers availed from cooperative societies. The percentage of loan from nationalised banks are 75 per cent and they should waive the interest for the benefit of farmers, he said. The chief minister appealed to the farmers not to commit suicides.

“About 596 farmers have committed suicide so far. The compensation has been increased to Rs 5 lakh and the pending amount will be paid to the affected families soon,” he added.