Karnataka waives crop loan up to Rs 50000 per farmer

22 June, 2017, 08:16 | Author: Brian Mcdaniel
  • As farmer protests mount government raises rice cotton buying prices

Karnataka Chief Minister Siddaramaiah on Wednesday announced that the state government would waive farmers' loans up to Rs 50,000.

He said that in the interest of the agriculture sector, the government has made a decision to come to the rescue of 22,27,506 farmers and waived their crop loans or short-term loan from cooperative banks outstanding till yesterday, by Rs 50,000 on each farmer, irrespective of the loan amount. The loan waiver announcement from Karnataka Chief Minister comes a day after Union finance minister Arun Jaitley categorically stated that there were no plans of farm loan waiver. Both states have announced farm loan waivers.

The state government has chose to give a flat debt relief worth Rs 2 lakh to marginal irrespective of their loan amount. The initiative would provide double the relief announced by the states of Uttar Pradesh and Maharashtra, he said. But when there is a poor monsoon or a drought situation, farmers may be unable to repay loans, prompting states or the Centre to offer relief -reduction or full waiver of loans.

The waiver of short-term loans will cost the exchequer Rs 8,165 crore. After all, he is the chief ministerial candidate of his party. "The government has not yet issued any letter to the banks about whatever was its decision", said Lomte, who attended the meeting of a group of ministers and the committee in Mumbai on Monday.The farmers' leader said the GR is ambiguous and issued without taking the steering committee into confidence as was decided and following which the farmers withdrew their strike.

Senate Votes Up Anti-Russia Sanctions
They blocked United States companies such as Exxon Mobil, where Tillerson was chairman, from investing in such projects. Individuals who carried out cyber attacks on behalf of the Russian government are also targeted.


Ralph Northam wins Democratic nomination for governor
The Virginia race, one of the few elections for governor in 2017, is shaping up to reveal the internal divisions of both parties. A recent Washington Post poll showed Perriello just barely leading and many undecided voters still making up their minds.


Trump to resume precision munitions deliveries to Saudis
This week, they'll get that chance when the Senate votes on my resolution to stop this weapons sale. Many lawmakers have yet to decide how to vote on the measures targeting arms sales to Saudi Arabia.


"Steps must be taken by the government to address rising farmer suicides in the state". Congress attacked the government and said that it is not serious about resolving the hardships of farmers.

Siddaramaiah appears to have relented after a nudge from Congress vice-president Rahul Gandhi.

When Yogi Adityanath waived off farmers' loans worth Rs 36,359 crore last April, little did the newly elected Uttar Pradesh chief minister know that he was setting off a trend across the country. "We also give farmers incentives on milk production", he said. "We have got FRBM Act (Fiscal Responsibility and Budget Management Act) and fiscal deficit target, we intend adhering to it", he said.

What is farm loan waiver? The loan waiver will benefit around 86 lakh small and marginal farmers in the state. The maximum amount of loan to be waived has been fixed at Rs 1 lakh per farmer.

Recommended:

  • Havana: Trump's Cuba Policy Speech 'Grotesque Spectacle'

    Havana: Trump's Cuba Policy Speech 'Grotesque Spectacle'

    As a result, the changes - though far-reaching - appear to be less sweeping than many U.S.pro-engagement advocates had feared. Trump, however, stopped short of breaking diplomatic relations restored in 2015 after more than five decades of hostilities.

    Protests over Minnesota police shooting result in 18 arrests on freeway

    She says those arrested were booked at Ramsey County Jail on charges including being a pedestrian on the busy freeway. July 9: Attorney Thomas Kelly says Yanez was reacting to the presence of the gun when he opened fire on Castile .

    House Russia investigators subpoena Flynn, Cohen

    Michael Flynn , then - President-elect Donald Trump's nominee for National Security Adviser arrives at Trump Tower in NY . On these issues, as well as further windfalls for the rich, there is little that separates the two big-business parties.
  • Srikanth in final, heartbreak for Prannoy

    Srikanth in final, heartbreak for Prannoy

    In the final, Srikanth will square off against Japan's Kazumasa Sakai who beat fellow unseeded Indian player H.S. He eventually managed to regain his composure, defeating Son by 21-15, 14-21, 24-22 in the hard-fought match.
    Eoin Morgan vows England will 'stay true' to beliefs after Pakistan heartbreak

    Eoin Morgan vows England will 'stay true' to beliefs after Pakistan heartbreak

    ENGLAND'S eight-wicket Champions Trophy semi-final trouncing by Pakistan taught us some lessons - not all for the first time. Eoin Morgan says England were not guilty of complacency after crashing out of the Champions Trophy against Pakistan .
    Texas congressman's staffer among those wounded in shooting

    Texas congressman's staffer among those wounded in shooting

    Scalise was wounded when a gunman opened fire at a Republican baseball practice in Virginia on Wednesday. Capitol Police officers on the scene, saying had they not been there, it "would have been a massacre".
  • United Kingdom  braced for thunderstorms, hail and lightning to end heatwave

    United Kingdom braced for thunderstorms, hail and lightning to end heatwave

    The amber warning is issued when "there is a 90 per cent probability of heatwave conditions" according to the Met Office website.

    White House torn over Mueller's role as pressure grows

    He said Trump had called him Monday night and that the two discussed Gingrich's concerns about the probe. Neither Trump nor Attorney General Jeff Sessions has offered public support for Mueller.
    Jeff Immelt stepping down as CEO of GE

    Jeff Immelt stepping down as CEO of GE

    Since Immelt became CEO in 2001, GE shares have fallen 29 percent, while its S&P 500 index has more than doubled. GE on Monday reaffirmed its 2017 outlook while omitting mention of next year's profit target of $2 a share.
  • Cavs, GM Griffin part after title, 3 straight NBA Finals

    Reports have surfaced that former National Basketball Association star Chauncey Billups was being considered as team president. Griffin's departure comes three days before the draft - the Cavs are now without a pick - and on the eve of free agency.
    Russia warns US after downing of Syrian jet

    Russia warns US after downing of Syrian jet

    The escalation comes after the USA shot down a Syrian jet that had been dropping bombs near US-backed fighter jets. The U.S. described its attack as an act of "collective self-defense of Coalition-partnered forces".
    EC issues notification for President's election, nominations to continue till June 28

    EC issues notification for President's election, nominations to continue till June 28

    Padmarajan from Salem in Tamil Nadu, who has earned the moniker of "Election King" by contesting more than 150 elections. Scrutiny of nomination will be held on June 29 and the last date for withdrawal of nomination is July 1.


Popular

Traffic cop stops President's convoy to let ambulance pass, wins hearts & minds
The DCP Traffic East, Bengaluru in a tweet praised the traffic sub-inspector and confirmed the reward to him. President Pranab Mukherjee was in Bangalore to inaugurate the Green Line of the Bangalore Metro.

NASA discovers 10 new Earth-size exoplanets
The final catalog of planet candidates will help researchers discover how many planets in the galaxy are Earth-like. KOI-7711, an unconfirmed exoplanet at this time, appears to be our best candidate for an Earth-like alien world.

London vehicle hits pedestrians, police say 'number of casualties'
Emergency service crews were seen giving cardiac massages to the injured "in a desperate bid to save them", the Daily Mail said. London's Metropolitan Police said officers were called just after midnight Sunday to an incident on Seven Sisters Road.

Russia unveils psychic cat ahead of Confederations Cup
Over the past five years, there have been numerous incidents of racism during matches in Russian Federation . For Russia , it's a chance to fine-tune ahead of hosting sport's biggest show next year.

Solano among areas affected by heat advisory
Temperatures, especially across Riverside County, could potentially hit the 120-degree mark, mainly in the deserts. It's about to get really hot in the Southwest, and health officials want people to stay alert.

Gallery: Community comes together at McLeod during Relay For Life
At dusk, the bags became aglow thanks to battery-powered candles and glow sticks that were placed inside them by event volunteers. Luminara bags line the track Friday evening at the 21st Annual Stutsman County Relay for Life.

TDP MP Banned From All Domestic Airlines After Unruly Behaviour
Earlier in the day, Raju said he would get the entire incident "enquired into" and would ensure that "lawful outcomes" follow. The airliner finally let him aboard the flight but soon banned him from all future flights; Air India soon followed suit.

Elder abuse report 'an important milestone'
Forty-four per cent elders say they have been abused in the public space at some time or the other, as per the recent report. According the Illinois Department of Aging, almost 15,000 cases of elder abuse were reported over the previous year .

Iran has 'proof' of Saudi support for Daesh attacks in Tehran
His comments come after a top Iranian general claimed the Islamic Republic had evidence the USA was directly supporting the group. Iran's Zarif says Tehran has intelligence that Riyadh supports terrorist groups operating on the eastern side of Iran .

Marissa Mayer quits as Verizon finally closes Yahoo deal
It wound up cutting the price by by $350 million and to split the cost of any legal liabilities resulting from the breaches. It also ends the almost five-year reign of Yahoo CEO Marissa Mayer , who isn't joining Verizon.