Bengaluru: The Congress and Janata Dal (S) state coalition government, in its circular announced here on Tuesday, May 7, that around 15.5 lakh farmers have been benefitted by the crop loan waiver.
It says that till date from the commercial and cooperative banks, a total of Rs 7417 Crores have been sanctioned for the crop loan waiver.
Among 15.5 lakh farmers, 7.49 lakh who had taken loan from commercial banks to such banks, already Rs 3929 Crore have been released and the remaining to the cooperative banks from whom 8.1 lakh farmers had taken loans have been sanctioned Rs 3488 Crore.
The circular has said that the state government has decided to waive off Rs 44000 Crore in the coming days.
The state government has clarified that due to the election model code of conduct in place, it wasn’t able to release the crop loan waiver amount adding that only after the first two phase of general elections was over, a plea to relax the same could be submitted to the Election Commission. The funds were possible to be released only after receiving EC’s approval, it says.
