Loan Waiver  

The farmers demanded that either their land that was given to the Rajiv Gandhi Foundation should be returned to them or they should be provided employment

Two categories of farmers will benefit if the loans are waived: marginal and small farmers. The average land holding of a marginal farmer in India is 2.37 acre whereas that of a small farmer in India is 8.67 acre

To send a message to its coalition partner Congress that the JD(S) may seek 12 out of 28 MP seats to contest in the Lok Sabha election, CM HD Kumaraswamy said that the JD(S) should win 12 seats to make its presence felt in Delhi. He also mentioned that, in February, the Government will announce a total farm loan waiver and come up with a new program that attempts to procure every crop that farmers grow. HDK said this at a JD(S) convention held today.

In yet another conversation with the press, Prime Minister Narendra Modi on Tuesday spoke to ANI, taking several tough questions and answering them with confidence. On the issue of farm loan waivers, the PM said the leniency was of little use to farmers who continue to face the same distress year after year.

Farmer Yamanappa had taken a loan of Rs 5 lakh from Jamakhandi Urban Bank in 2012 by pledging the house and land. He died of cancer and now the bank is sending repeated notices to auction the house and their farmland.
 

Yamanappa , who took a loan of Rs 5 lakh from a private bank in Karnataka, died of cancer, despite spending Rs 4 lakh on his treatment. Currently, the bank has sent a notice to the family to pay Rs 8,60,000 including interest.

The act of waiving off loans affects not only the banks and taxpayers but also the farmers who are the intended beneficiaries of the populist dole. Once the farmers are told not to pay back the money they had borrowed, the banks wait for the government to reimburse the money that has been forsaken. This money arrives after many years. Until then, banks are reluctant to disburse further loans to farmers, with the apprehension of not being able to recover the amount. Finally, when the banks get the money from the government, it is taken from the tax collections: that is, from people who had not taken the loan in the first place!

At a time when the Congress is riding high on its victory in MP, Rajasthan and Chhattisgarh by playing the ‘farmer loan waiver' card, the Karnataka BJP exposed the double standard of the Congress leader Rahul Gandhi. Former chief minister and BJP president, BS Yeddyurappa stated that 377 farmers have committed suicide. Out of Rs 44,000 crore loan waiver promised, only Rs 50 crores have been disbursed

The Congress had waived farmers’ loan in three states where they won the Assembly elections 2018 — Chhattisgarh and Madhya Pradesh and Rajasthan
 

North Karnataka farmers call HD Kumaraswamy anti-farmer in protest after HDK fails to deliver waivers on farm loans as promised. They have indicated that they would march to Delhi to meet Prime Minister Modi to take up this issue. 

As the Karnataka government broke its promise on farm loan waivers mentioned by chief minister HD Kumaraswamy on waiving farm loans in 24 hours as soon as he takes the oath, Karnataka farmers especially in drought-hit districts of North Karnataka, accused HD Kumaraswamy, calling him an anti-farmer for coming up with lame excuses.