Economy

Only 800 Karnataka farmers have benefited by loan waiver scheme since July: report

Updated : December 20, 2018 01:37 PM IST

Bandeppa Kashempur, cooperation minister, reportedly told the legislative assembly about the progress of the loan waiver scheme.

Only 800 Karnataka farmers have benefited by loan waiver scheme since July: report

After the announcement of the farm loan waiver scheme of Rs 44,000 crore in July, Karnataka government on Wednesday admitted that only around 800 farmers were benefited from the scheme, Times of India reported.

Bandeppa Kashempur, cooperation minister, reportedly informed the legislative assembly about the progress of the loan waiver scheme.

The process for the implementation of scheme involves preparing a green list wherein the two databases — submitted by farmers and the banks — are to be checked before preparing the green list. According to Kashempur, the slow implementation of the scheme was largely because of the delay in generating the second green list, and not due to the shortage of funds, said the report.

Kashempur, according to the report, said the government was expecting 43 lakh applications from farmers, including 20 lakh farmers who have availed loans from cooperative banks.

Chief minister Kumaraswamy, in his party manifesto, had promised to waive the farmers' loans within 24 hours of taking charge.

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