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StatesPosted at: Nov 23 2017 2:19PM


Pondy Govt will waive corp loan of farmers: CM

Puducherry, Nov 23 (UNI) Puducherry Government will waive the crop loan taken from the cooperative institutions and function as a Champion of farmers, Chief Minister V Narayanasamy told the legislative Assembly today.
Making a suo motu statement in the assembly, the Chief Minister said a file pertaining to the waiver of crop loan was sent to the Lt.Governor for approval. However, she returned the file stating that the state government do not have any power to waive the loan of commercial banks. Subsequently the government had written to Finance Minister Arun Jaitley seeking to waive the crop loan from Cooperative Onstitutions to which he replied that the Centre cannot compensate and the state could waive out of its own funds.
However, the Lt.Governor once again forwarded the file to the Union Government.
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