(Image source from: Ndtv.com)

Karnataka To Waive Farmer Loans Worth Rs 10000 Cr:- Karnataka government led by JDS and Congress decided to waive off the farm loans worth Rs 10000 crores including the interests in the state that are taken by farmers. "The loans borrowed by the farmers from district cooperative banks and state cooperatives will be waived along with interest on them, costing the exchequer about Rs 10,000 crore" said HD Kumaraswamy in an official statement.

The decision has been taken in a meeting chaired by Chief Minister Kumaraswamy and was attended by Co-operation Minister Bandeppa Khashempur, Agriculture Minister NH Shivashankara Reddy along with the officials. Kumaraswamy will announce the details about the waiver on July 5th when he presents the budget. The previous waiver costed Rs 8165 crores for the state. This new loan waiver came as a huge relief for farmers who have been reeling under debts. Several crops failed due to droughts in the state informed an official.