TN CM Vijay Announces Farm Loan Waiver Increase Up to ₹75,000 in Assembly

Marking the completion of 100 days of his coalition government in office, Tamil Nadu Chief Minister C. Joseph Vijay announced a full farm loan waiver of up to ₹75,000 for marginal, small, and other farmers in the Assembly on Monday. The move marks an increase from the previously announced waiver limit of up to ₹50,000.

Making the announcements under Rule 110 of the Assembly, the Chief Minister outlined the relief structure for different loan categories. Farmers who availed of loans in the range of ₹75,000 to ₹1,00,000 will be eligible for a maximum waiver of ₹75,000. Meanwhile, borrowers who took loans exceeding ₹1 lakh will receive a maximum waiver of ₹35,000.

Mr. Vijay stated that ₹5,267 crore out of a total waiver amount of ₹5,932.23 crore has already been credited directly into the bank accounts of 13.34 lakh farmers, from an eligible pool of 14.44 lakh farmers.

Under the enhanced scheme, eligible beneficiaries will have the opportunity to receive an additional waiver of up to ₹40,000 over and above the amount they have already received.

The Chief Minister noted that the additional crop loan waiver will impose a financial burden of approximately ₹953.06 crore on the state exchequer. He emphasised that despite the cost, the government decided to implement the measure for the welfare of the state's farming community, taking the total crop loan waiver commitment to ₹6,220 crore for approximately 13.34 lakh farmers.