Karnataka government decides to waive off interest on medium, long term loans: BS Yediyurappa

Source: ENS | By Sajjad Quazi | Published on 10th February 2020, 11:18 PM | State News |

HALEBID: Chief Minister BS Yediyurappa said on Sunday that the state government has decided to waive off interest on midterm and longterm loans borrowed from Cooperative Societies and Primary Agriculture land Development banks in the state.

Speaking to the reporters before attending the valedictory of Taralabalu Hunnime programme here, he said that the farmers who borrowed medium and long term loans for agriculture purposes including purchasing of Tractors, power Tiller and Agriculture equipment need not pay the interest in the future.

He said he took the decision to this effect in the interest of the farming community as his government was committed to the welfare of farmers who are in distress due to various reasons.

He said that the decision of waiving of interest on medium and long-term loans is first of its kind in the state.

Hinting at a pro Farmer budget BS Yediyurappa said that priority would be given to Agriculture sector in upcoming Budget.

BSY said that his government has also announced a support price for Paddy and committed to fill the tanks from nearby Reservoirs across the state. Home minister Basavaraj Bommai was present at the event.

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