Centre to consider states' requests of coop farm loan waivers
Finance Minister P Chidambaram said on Sunday that the Centre would consider requests from varoius states of waiving off the farm loan given through cooperative banks.
By PTI |
ARIYAKUDI: Union Finance Minister P Chidambaram has said that the Centre would consider requests from various states, including Tamil Nadu and Karnataka, for absorbing farm loan waiver given through cooperative banks.
"The Centre will look into demand of the state governments after completion of the ongoing debt waiver process (through banks)," he told reporters in Ariyakudi in Tamil Nadu on Sunday.
Karnataka and Tamil Nadu have given proposals urging the Centre to bear this burden. Tamil Nadu had waived farm loan to the tune of Rs 7,000 crore in this respect.
Chidambaram said the Vaidhyanathan committee had made several recommendations for reviving and restructuring cooperative banks.While accepting the recommendations, there were chances of coopertives getting funds. However, "the schemes of the Centre and the state should not overlap," the Finance Minister said.
The Centre is currently in the process of waiving farm debt totalling over Rs 71,000 crore through banks. The loans are supposed to be waived off by June 30th.
"The Centre will look into demand of the state governments after completion of the ongoing debt waiver process (through banks)," he told reporters in Ariyakudi in Tamil Nadu on Sunday.
Karnataka and Tamil Nadu have given proposals urging the Centre to bear this burden. Tamil Nadu had waived farm loan to the tune of Rs 7,000 crore in this respect.
Chidambaram said the Vaidhyanathan committee had made several recommendations for reviving and restructuring cooperative banks.While accepting the recommendations, there were chances of coopertives getting funds. However, "the schemes of the Centre and the state should not overlap," the Finance Minister said.
The Centre is currently in the process of waiving farm debt totalling over Rs 71,000 crore through banks. The loans are supposed to be waived off by June 30th.
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