India News | CM MP announces loan interest relief for farmers during Independence Day speech

Bhopal, Aug 15 (PTI) Madhya Pradesh Chief Minister Shivraj Singh Chouhan said on Monday that his government would pay interest on loans from farmers who failed to repay, saying the loan exemption promise of the previous Congressional dispensation would benefit them.

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Addressing the Independence Day ceremony at Motilal Nehru Stadium here, he said the move would bring relief to farmers.

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“Several farmers’ loans have not been canceled despite the promise of the previous government. The interest on these loans has continued to increase. These interest on the loans will be deposited by my government so that the farmers can be relieved,” said- he declared.

Congress had promised a farm loan waiver ahead of the 2018 Assembly elections, and the BJP alleged that several farmers had stopped repaying amounts, thinking they would be covered by the scheme.

Announcing a plan for diversification in the agricultural sector, the CM said that farmers and their private partners can engage in the cultivation of oilseeds and medicinal plants, although this decision does not cover the cultivation of rice and wheat. .

The state recorded economic growth of 19.74%, with capital expenditure increasing by 45% over the past two years, the CM said in his speech.

The Assembly votes will probably take place in MPs at the end of next year.

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)

Bernadine J. Perkins