Hours after taking oath, Chief Minister Kamal Nath waives farm loans - TNBCLive

Newly-elected Chief Minister of Madhya Pradesh, Kamal Nath has waived loans for farmers in the state, two hours he took an oath.

CM Nath has waived loans for farmers in Madhya Pradesh, two hours after he took oath as the Chief Minister in the state. The promise of farm loan waivers was made by the party during the election campaign in the state, After assuming office, this is CM Nath’s first decision for the farmers.

Kamal Nath has signed the papers required for waiving off loans for farmers up to Rs. 2 lakh for co-operative and nationalized banks till March 31.

The party had also promised to write off farm loans of up to Rs. 2 lakh and offer a “salary grant” for 5-years to industries offering jobs to a youth of gets elected to power in Madhya Pradesh.

Congress Chief Rahul Gandhi has attended the oath-taking ceremony of Kamal Nath, tweeted: “1 done, 2 to go.”

Mr. Gandhi referred to same promises that Congress made in Chhattisgarh and Rajasthan before the Assembly Elections.

Hours after taking oath, Chief Minister Kamal Nath waives farm loans | tnbclive.in

During a press release, CM Kamal Nath said, “I want to ask the banks and economists that when you waive off loans of huge industrialists, it doesn’t bother you but when it’s about farmers, then you get a stomach ache?”

In the election manifesto, the party has further promised a social security pension for farmers in the state, who held massive protest last year in the state, and a rebate in the land registration fees, and also with a financial assistance of Rs. 51,000 for small cultivators’ daughter’s marriages.

The waiver of farm loan is expected to cost Rs. 56,000 crore to the state exchequer.  MD faces a debt of Rs. 1.6 lakh crore, reports official records. However, the actual figure could be well more than Rs. 1.87 lakh crore.

72-years-old Kamal Nath has taken oath of office as Madhya Pradesh Chief Minister at an event, which was attended by Congress Chief Rahul Gandhi and several opposition leader like  former Prime Ministers HD Deve Gowda, Andhra Pradesh Chief Minister N Chandrababu Naidu, DMK Chief MK Stalin, Manmohan Singh, Bihar opposition leader Tejashwi Yadav and Karnataka Chief Minister HD Kumaraswamy.

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