Farm loan write-off will be a reality soon: Karnataka CM Kumaraswamy

BENGALURU: Chief Minister H D Kumaraswamy has reiterated his commitment  to waiving farm loans even as doubts are being expressed about its delivery by the coalition government. Loan waiver and the modalities to avail the benefit would be announced soon, Kumaraswamy has assured. However he has not set any deadline for the announcement.

In a move to clear confusions and doubts in the minds of the farmers about credibility of his assurance, Kumaraswamy has reiterated his commitment through the social media. The Chief Minister has attributed the delay in this regard to the fact that it involved mobilising thousands of crores (`53,000 crore) and working out the modalities.

“Let there be no confusion on farm loan waiver. I am fully committed to the loan waiver. I want to ensure it is done scientifically benefitting maximum farmers. I am working on the modalities and will announce it shortly,” Kumaraswamy tweeted on Friday.

Later participating in a conference of Chartered Accountants and Auditors, Kumaraswamy said that he has started the ground work for fulfilling his promise. “I am fully committed to waive farm loans. I will not run away, I am not scared by the huge challenge ahead in fulfilling my promise. I will waive the farm loans  as part of the Common Minimum Programme to be announced soon, without violating the norms of fiscal discipline enunciated by the Fiscal Responsibility Act,” Kumaraswamy said.

“I have started deliberations with heads of banks, gathered figures on the quantum of farm loans disbursed through nationalised and co-operative banks. I will not try to escape from the promise I have made,” the CM added.

Farm waiver is likely to be announced in the Budget to be presented in July first week. “The budget would have many welfare programmes for all segments of the society,” Kumaraswamy said. He accused the critics of trying to derail his government “as they fear my good work will bring popularity for me,” he added.

Farmers to stage agitation

Condemning the delay in implementing farm loan waiver, members of Karnataka Rajya Raitha Sangha will stage a protest in all the districts on June 18.

Badagalapura Nagendra, general secretary of the Sangha said that despite assurances, the coalition government has not been able to fulfil the promises it made within the stipulated time. This has affected farmers across the State ahead of the Kharif sowing season.

Apart from insisting the government to announce the waiver, the protest will also highlight the plight of paddy farmers. “Paddy rate has dropped from `2,250 per quintal to `1,750 per quintal. We will demand the state to set up procurement centres for paddy,” he added.

BJP to hit protest mode
BJP too is set to turn the heat on Kumaraswamy government for its delay in fulfilling the loan
waiver promise. The opposition party is gearing up for state-wide protests from June 30 if Kumaraswamy fails to deliver on his promise.
The party has chalked out plans to form 6 teams under the BJP Raitha Morcha which would tour the entire state for 15 days from June 30 and take the lead in staging protests in all the districts.