Kamal Nath Waives Farm Loans

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Posted By: Sangeeta December 23, 2018

Two Hours After Taking Oath Chief Minister Kamal Nath Waives Farm Loans

The promise of farm loan waiver was made by the Congress during the election campaign in Madhya Pradesh.

Kamal Nath signed the papers for farm loan waivers two hours after taking oath.

Highlights

  1. Congress had promised loan waiver ahead of elections
  2. Farmers’ distress, lack of jobs had resulted in BJP’s defeat in the polls
  3. Loan waiver will cost at least Rs. 50,000 crore, according to reports

In his first act after taking charge as Madhya Pradesh chief minister, Kamal Nath signed off on a massive farm loan waiver promised by the Congress during its poll campaign. A loan waiver for debt-hit farmers headlined Congress’ election promises in the three heartland states it took from the BJP, including Rajasthan and Chhattisgarh.

“The new Chief Minister did in two hours what he had assured he would do within 10 days of taking power,” the Congress in Madhya Pradesh tweeted. Some 33 lakh farmers, owing Rs. 70,000 crore in unpaid dues, will benefit from the move