The Hindu : Tamil Nadu News : “Increase land ceiling to 15 acres”

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Saturday, Mar 08, 2008
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Tamil Nadu

Tamil Nadu

“Increase land ceiling to 15 acres”

Staff Reporter

Centre adopting divide-and-rule policy on the issue: BJP

TIRUTTANI: The Bharatiya Janata Party on Friday urged the Centre to increase the land ceiling to 15 acres for farm loan waiver proposed in the Union Budget.

The resolution, adopted at a meeting of the State executive committee here, said the Congress-led Government was adopting a divide-and-rule policy while handling this sensitive issue.

It would not be possible for farmers holding more than fives acres to repay 75 per cent of the outstanding loan before June this year to avail themselves of the 25 per cent waiver, as many depended on monsoon for irrigation.

Furthermore, a majority of farmers had taken loan from moneylenders.

To safeguard their interest, the Government should direct schedule banks/cooperative societies to absorb these loans and ask the farmers to repay the loans with a four per cent interest over six-seven years, it said.

The party demanded that the interest on housing loans be slashed to 6.5 per cent.

White Paper sought

Expressing concern over the volatility in the stock market, the meeting sought a White Paper on foreign investments in the market.

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