JD(S) leader and former Chief Minister H.D. Kumaraswamy has welcomed the Chief Minister’s decision to waive farm loans, but described the amount to be waived off per farmer as insufficient.
He told presspersons at Athani in Belagavi district that the government’s decision was timely, but it was not enough. Other States including Congress-ruled Punjab have waived loans of upto Rs. 1-2 lakh per head. Karnataka too should raise the limit. Farming costs have gone up and farmers are forced to take loans repeatedly. The State is reeling under a three-year drought and farmers need more relief. The State government should also waive loans taken by farmers from private banks.
Mr. Kumaraswamy criticised RBI Governor Urjit Patel for saying loan waivers would damage the country’s economy. Was the economy not damaged when the Central government waived off Rs 1.6 lakh crore of corporate loans, he asked. “People like Mr. Patel should be sent out of the country,” Mr. Kumaraswamy added.
