Tamil Nadu Chief Minister Palaniswami announced that loans taken by pledging up to 6 pieces of jewelry from cooperative banks and loans taken by women’s self-help groups will be waived. The Chief Minister told the legislature that the move was taken as the normal life of the people was affected due to the coronavirus pandemic, and so this waiver was much needed for the public to get back on their feet. The Chief Minister clarified that this waiver would come into immediate effect and the required financial allocation would be made by the Tamil Nadu government.
It is to be noted that only a few weeks ago, the government had waived ₹12,110 crores worth of farm loans availed by 16.43 lakh farmers from cooperative banks.
“This announcement has facilitated farmers in continuing cultivation works without any difficulty in the forthcoming year,” the Chief Minister said during the announcement of the waiver.
It is to be noted that it was only in January that DMK President MK Stalin had promised a waiver of farm and jewel loans if his party was elected to power. In light of this, the CM pointed this out in the assembly and claimed that AIADMK was the only party that kept its word and fulfilled promises.
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