Economy

TN CM waives farmers’ jewel loans, SHG loans from state co-operatives

Our Bureau Chennai | Updated on February 26, 2021

Tamil Nadu Chief Minister Edappadi K Palaniswami   -  The Hindu

The Tamil Nadu Chief Minister Edappadi K Palaniswami, on Friday, announced waiver of jewel loans up to six sovereigns availed by farmers and the poor from state cooperative banks.

He also waived loans for self-help group members from state cooperative banks and societies.

“Farm labourers and poor people who had taken loan by pledging their jewels have been facing severe constraints in paying back the loan amount. Though Covid-19 cases have come down in Tamil Nadu, still normalcy is not restored. Considering their difficulties, the State government has decided to waive the loans,” he said in a suo motu announcement in the Assembly.

A couple of weeks ago, the Chief Minister waived ₹12,110 crore worth of crop loans. The move was expected to benefit about 16.43 lakh farmers in the State.

‘Appeal for waiver’

“There was a request from SHGs for loan waiver due to the difficulties in repayment of loans obtained by members of women SHGs in cooperative banks and societies. These loans will be waived off to ease their problems,” said Palaniswami.

Meanwhile, minutes before the Election Commission’s announcement on the schedule for the Assembly elections in various States including Tamil Nadu, the Assembly adopted a Bill providing a 10.5 per cent quota to the Vanniyar community within the 20 per cent reservation for MBCs and Denotified Communities.

The Bill, moved by Chief Minister Edappadi K Palaniswami, was unanimously passed by the House.

While fielding a range of questions at a media conference, Palaniswami said Tamil Nadu was the only State that could attract ₹60,000 crore worth of investments even during the pandemic phase. These projects will have the potential to create one lakh jobs. “Also, recently we signed up for ₹28,000 crore worth of projects. All these projects will generate huge number for jobs for youth in the State,” he added.

Published on February 26, 2021

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