Indian Agrarian Crisis now moved to

Farmer-the most endangered species

Cooperative farm loans worth Rs. 4,836 crore to be waived

Posted by Ramoo on January 31, 2007

Special Correspondent…

My Government will keep the promise: Kumaraswamy

`Priority to develop tier-II and tier-III cities’
Government confident of service sector boom continuing

PROMISES REPEATED: Chief Minister H.D. Kumaraswamy getting ready to address the Janata Dal (Secular) National Executive meeting held at Palace Grounds in Bangalore on Monday. — Photo: K. Gopinathan

BANGALORE: Chief Minister H.D. Kumaraswamy on Monday said his Government was committed to its promise of waiving farm loans and said the total outstanding of farmers to the cooperative banks in the State, as on December 31 last, was Rs. 4,836.98 crore.

In his address at the national council meeting of the Janata Dal (Secular) here, Mr. Kumaraswamy said that of the outstanding from farmers, the principal amount was Rs. 4,198.45 crore and the interest component Rs. 638.53 crore.

On an average, the per capita debt of farmers vis-à-vis farm loan was Rs. 24,663. The number of cooperative loan accounts in the State was 17,78,753.

He lashed out at the critics of the farm loan waiver proposal and said it was one of the important steps in checking suicide by farmers.

“If a country that wants to become an economic powerhouse cannot end the misery and suicides of its farmers by allocating a few thousand crores of rupees while it gears up for a challenge to invest nearly Rs. 50 lakh crore in improving infrastructure, then something is fundamentally wrong.”

Capital inflow

Mr. Kumaraswamy said the State had received unprecedented industrial investments over the past year and this was expected to increase in the coming financial year. The Government planned to develop tier-two and the tier-three cities and towns in the State to prevent the migration of people and to ensure that the rural people found employment closer home.

The formation of Greater Bangalore had been designed to upgrade the infrastructure in the State’s Capital.

This year, project proposals involving an investment of Rs. 80,000 crore and having an employment potential of 15 lakh jobs, had been cleared by the State Government.

Service sector boom

The State Government was confident that over the 11th Plan period and beyond, manufacturing and service sectors would continue to grow at a healthy pace in the State.

“More than 200 IT and 35 BT companies have been established in the last year indicating that Karnataka continues to be the preferred destination of the knowledge industry”.

Not a bed of roses

The Chief Minister admitted that heading a coalition Government was not a bed of roses.

By conducting “Janata darshans” over the weekend and by staying in the houses of villagers whenever possible, “I have done my best to show that the Government is for the benefit of the common man.”

Party’s support

The Chief Minister thanked the national executive of the Janata Dal (Secular) on revoking the suspension served on him and 39 other MLAs for associating with the BJP in forming a coalition Government in the State.

But for the revocation of the suspension of MLAs at the last national executive meeting held on December 25 last, the Chief Minister and the other Ministers here could not have attended the two-day meet.

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