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Interest on short-term farm loans waived

By Our Special Correspondent

CHENNAI, FEB. 29. The State Government today announced waiver of interest on short-term loans availed by farmers from various cooperative banks for raising kuruvai and samba paddy crops in the State. About six lakh farmers are likely to benefit. This would cost the exchequer Rs. 62 crores.

Just a few days ago, the Government issued orders for conversion of short-term loans availed by farmers into medium-term loans.

To help ``suffering small tea growers'', the Government has waived the interest and penal interest outstanding as on December 31 on long-term and short-term loans. An official release today said the concession would cost the exchequer to Rs 1.80 crores.

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