Vijay announces full waiver on farm loans of ₹75,000
What's the story
Tamil Nadu Chief Minister C Joseph Vijay has announced a major relief measure for farmers in the state. The government will waive off crop loans of up to ₹75,000. For loans between ₹75,000 and ₹1 lakh, a waiver of up to ₹75,000 will be provided. Loans above ₹1 lakh will get a maximum waiver of ₹35,000.
Financial impact
Additional waivers for over 2.38 lakh farmers
The announcement was made during a session of the Tamil Nadu Assembly under Rule 110.
The move is expected to benefit 2,38,264 farmers who have taken loans between ₹75,000 and ₹1 lakh.
CM Vijay said these farmers will get an additional waiver of up to ₹40,000 on top of what they already received.
Earlier, the waiver for farmers who had obtained a loan above ₹75,000 was ₹35,000.
Financial commitment
Agriculture is the lifeline of Tamil Nadu: Vijay
Vijay emphasized agriculture's importance in Tamil Nadu and India's prosperity.
He said, "If the people of Tamil Nadu are our life, then farmers are our lifeline... Protecting the livelihoods of farmers, reducing their debt burden and strengthening agriculture are among the foremost responsibilities of this government."
He said despite financial constraints, the government has decided to extend additional support of ₹953.06 crore to farmers.
Past measures
Previous loan waivers and consultations with agricultural unions
He said earlier the government had waived off agricultural loans up to ₹50,000 within 15 days of taking office in May.
He said after consulting agricultural unions on August 7, 2026, the government decided to provide additional relief despite financial constraints and Reserve Bank of India guidelines requiring quick settlements with cooperative banks.