Karnataka govt to waive interest on overdue loans of district cooperative banks: CM Siddaramaiah
Bengaluru: The Karnataka government has decided to waive interest on medium and long-term overdue loans of District Cooperative Central and Primary Cooperative Agriculture and Rural Development banks, Chief Minister Siddaramaiah said on Friday, claiming that it would benefit more than 57,000 farmers.
Presenting the 2024-25 budget in the Assembly, he said an Agriculture Development Authority will be created under the chairmanship of the Chief Minister to facilitate effective implementation of policies related to agriculture and allied activities.
"Our government has decided to waive off interest on medium and long-term overdue loans of DCC and Primary Cooperative Agriculture and Rural Development (PICARD) banks. This will benefit more than 57,000 farmers. As a result of this scheme, the DCC/ PICARD banks will be able to recover loans to the tune of Rs.496 crore," Siddaramaiah said.
He said the government will provide ₹450 crore financial assistance by way of compensation to the banks under the scheme. "This decision will bring about a considerable improvement in the financial condition of these banks," the chief minister said.
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Siddaramaiah said that in 2023-24 it was decided to extend the loan limit for interest-free short term loan from ₹3 lakh to ₹5 lakh and, similarly, the upper limit for medium and long-term loans, which are provided at a subsidised interest rate of 3 per cent, was raised from ₹10 lakh to 15 lakh.
In the current year, the targeted lending through the cooperative sector is ₹27,000 crore, he said, adding that this would benefit more than 36 lakh farmers in the state.
To encourage integrated agriculture, various schemes related to the agricultural sector will be consolidated and a new scheme called 'Karnataka Raitha Samruddhi Yojane' will be started from this year, the chief minister said.
A new programme "Namma Millet" will be started, under which processed millets and value-added millets will be made available at affordable prices, he added.
To promote sustainable agriculture in drought-affected and rain-fed areas of the state and to aid soil and water conservation, 5,000 water bodies will be created over a period of five years, the chief minister said.
To promote processing, value addition and export of agricultural and horticultural produce, food parks will be established near airports under Public-Private Partnership, Siddaramaiah said.
In the current year, these food parks will be established at Sogane in Shivamogga district, Ittangihala in Vijayapura District and Pujenahalli village in Bengaluru rural district, he informed in the Assembly.
"Kisan Malls" will be opened in select districts to provide farmers with horticulture related technical guidance, market connectivity, farm implements and agro products under one roof, he said.
Floriculture is practised in 40,000 hectares of land in the State, Siddaramaiah said. To promote sales and exports of floricultural crops, a well-equipped commercial floriculture market of international standards will be set up in Bengaluru city under Public-Private Partnership, he added.
A "Spice Park" will be developed in Chikkamagaluru district under public-private partnership to encourage spice growing farmers and promote export of spices, he added.
To encourage dairy farming among women, six per cent interest subsidy will be provided on the condition of timely repayment of the loan availed for buying cow/ buffalo, the chief minister announced.
For the prevention of atrocities on nomadic shepherds and their properties, an Act will be enacted, he said. The government also plans to invest ₹3,000 crore in the coming years for all-round development of the fisheries sector, Siddaramaiah said. For emergency evacuation of fishermen in the event of health emergencies and accidents, the State's first sea ambulance will be introduced at a cost of ₹seven crore, the chief minister said. The government appreciates the Central Government's decision to recognise the contribution of M S Swaminathan in the field of agriculture by awarding him with the Bharat Ratna title, he said.
"In the same spirit, we will request the Central Government to calculate MSP based on the formula of cost of cultivation plus 50 per cent profit as recommended by the Swaminathan Committee."
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UDF leaders see local body poll trends as pointer to 2026 Assembly elections in Kerala
Thiruvananthapuram (PTI): Buoyed by the strong performance of the Congress-led UDF in the local body polls, KPCC president Sunny Joseph said on Saturday that the front's results indicated the people had rejected the LDF government.
According to early trends, the UDF was leading in more grama panchayats, block panchayats, municipalities and corporations than the LDF.
The local body polls were held in two phases in the state earlier this week.
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Speaking to reporters here, Joseph said the people of Kerala had extended their support to the UDF.
"We could expose the LDF government’s anti-people stance and the people understood it. The LDF’s fake propaganda was rejected by the people. The UDF is moving towards a historic victory," he said.
He said a united effort, proper preparations, good candidate selection and hard work had resulted in the Congress and the UDF’s victory in the elections.
Asked about the prospects in the Thiruvananthapuram Corporation, Joseph said the party was studying the matter and would comment later.
LDF convenor T P Ramakrishnan said the results would be closely examined.
According to him, the government had done everything possible for the people.
"Why such a verdict happened will be examined at the micro level. People’s opinion will be considered and further steps will be taken," he said.
He added that decisions would be taken after analysing the results. "If any corrective measures are required, we will initiate them and move forward," he said.
AICC leader K C Venugopal said the results showed that people had begun ousting those who, he alleged, were responsible for the loss of gold at Lord Ayyappa’s temple.
"This trend will continue in the Assembly elections as well. It is an indication that the people are ready to bring down the LDF government," he said.
Venugopal said the UDF had registered victories even in CPI(M) and LDF strongholds.
"I congratulate all UDF workers for their hard work. Congress workers and leaders worked unitedly," he said.
Referring to remarks made by Chief Minister Pinarayi Vijayan against the Congress on polling day, Venugopal said the voters had responded through the verdict.
"I do not know whether the chief minister understands that the people are against him. Otherwise, he does not know the sentiment of the people. The state government cannot move an inch further," he said.
He said the results indicated a strong comeback for the UDF in Kerala.
Asked whether the Sabarimala gold loss issue had affected the LDF in the local polls, Venugopal said the CM and the CPI(M) state secretary did not take the issue seriously.
"We took a strong stand on the matter. The BJP played a foul game in it," he alleged.
On the BJP's role in the local body elections, Venugopal alleged that the party operated with the CPI(M) 's tacit support.
"The CPI(M) supported the central government on issues such as PM-SHRI, labour codes and corruption in national highway construction. The CPI(M) is facing ideological decline, and the state government’s policies are against the party’s own decisions," he said.
Meanwhile, LDF ally Kerala Congress (M) leader Jose K Mani said the party could not win all the wards it had expected in the elections.
He congratulated winners from all parties and said the party would closely examine the losses and identify shortcomings. "Later, we will take corrective measures," he added.
Senior Congress leader and MP Rajmohan Unnithan said the trends in the local body elections indicated that the UDF would return to power in the 2026 Assembly elections.
"We will win 111 seats as in 1977 and return to power in 2026. The anti-government sentiment of the people is reflected in the elections," he said.
Unnithan said the people were disturbed and unhappy with the present government.
"The trend indicates the end of the LDF government," he added.
CPI(M) MLA M M Mani said the people had shown ingratitude towards the LDF despite benefiting from welfare schemes.
"After receiving all welfare schemes and living comfortably, people voted against us due to some temporary sentiments. Is that not ingratitude," he asked.
Mani said no such welfare initiatives had taken place in Kerala earlier.
"People are receiving pensions and have enough to eat. Even after getting all this, they voted against us. This is what can be called ingratitude," he said.
Muslim League state president Panakkad Sayyid Sadiq Ali Shihab Thangal said the results were beyond expectations.
"The outcome points towards the Secretariat in Thiruvananthapuram, indicating that a change of government is imminent. We are going to win the Assembly election," he said.
