Tuesday, May 27, 2008

Increase in debt waiver for farmers

The government has hiked debt waiver for farmers to Rs. 71,680 Crore (1 Crore = 10 million).

As reported by rediff,
Under the modified scheme, all farmers, including big ones, in 237 identified districts will get a debt relief of 25 per cent of the outstanding amount or Rs 20,000, whichever is higher, Finance Minister P Chidambaram told reporters after a meeting of the Cabinet, which approved the guidelines.
In a time when farmer suicides are rampant, this move from the government would be a great relief for farmers who are in debt and whose hopes have come to an end.

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