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Rs. 12,110 crore cooperative crop loan waiver

· Chennai

Rs. 12,110 crore cooperative crop loan waiver
Prime Minister's Office, GODL-India · Wikimedia Commons

Ahead of the 2021 election, Palaniswami waived crop loans from cooperative banks for about 16 lakh farmers after cyclones damaged crops.

On 5 February 2021 Chief Minister Edappadi K. Palaniswami announced under Rule 110 in the Assembly that crop loans taken from cooperative banks would be waived. The waiver covered about Rs. 12,110 crore and around 16.13 lakh farmers. He cited crop losses from cyclones Nivar and Burevi, excess rain in January and the COVID-19 pandemic. The announcement came a few months before the April 2021 Assembly election.

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