Karnataka - Gulbarga   

1.47 lakh farmers to benefit

Special Correspondent

Rs. 185.88 crore taken from cooperative banks to be written off

GULBARGA: As many as 1,47,133 farmers will benefit in the five districts of Gulbarga division, Gulbarga, Bidar, Raichur, Bellary and Koppal, by the farm loan waiver scheme announced in the budget by the Government. Loans amounting to Rs. 185.88 crore taken from cooperative banks would be written off.

Official sources here said that the farmers who had availed themselves of loans to a maximum of Rs. 25,000 would be the major beneficiaries. Their entire loans from cooperative banks would be written off. Farmers, who had availed themselves of loans of more than Rs. 25,000, would be eligible for waiver of interest.

The sources said that farmers were likely to get waiver of interest on their loans of more than Rs. 25,000 to an extent of Rs. 28 crore. As per the figures available, loans along with interest to be repaid by farmers for loans they had availed themselves of from January 2006 to December 2006 was Rs. 501 crore.

The Government, through its loan waiver and interest waiver schemes, would on behalf of farmers pay Rs. 313 crore. The balance would have to be paid by farmers.

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