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Siddaramaiah Announces Interest Waiver for Farmers on Cooperative Loans in Karnataka

In a move to provide relief to drought-affected farmers, Chief Minister Siddaramaiah announced a waiver of interest on medium- and long-term loans obtained from cooperative banks, provided farmers pay off the principal amount. The announcement came during a debate on North Karnataka issues in the State legislature’s winter session in Belagavi.

Siddaramaiah countered the BJP’s criticism, highlighting that 14 states, including Karnataka, are grappling with drought. He urged the BJP-led Central government to waive farm loans in these states and emphasized the need for political parties to fulfill their promises.

The opposition demanded loan waivers up to ₹2 lakh for farmers and ₹25,000 per acre in drought compensation, calling for a White Paper on the state’s finances. The BJP staged a walkout expressing dissatisfaction with the lack of clear financial allocations for the announced measures.