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September 20, Thursday 2018 2:35 PM       

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       KERALA Next Article: Shuhaib murder: Govt went for appeal to protect real culprits, says Hassan  
       Moratorium will be considered for farmers struggling to pay back loans: CM
 
         Posted on :18:35:11 Mar 14, 2018
   
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       Last edited on:18:35:11 Mar 14, 2018
         Tags: Moratorium, CM
 

THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan has said the government will consider declaring moratorium if it is convinced that farmers are struggling to repay loans taken from cooperative banks.

“The government has a very sympathetic approach to farmers’ issues. The government will not support any attempt to confiscate farmers’ land or mess up their life. Usually during the month of February-March, all banks will announce loan waiver schenmes to help famrers who defaulted loan repayment for years. This is done at ban’s discretion and the government doesn’t make any suggestion on itnot due to the instruction,” the chief minister said.

The chief minister said that the paddy and coconut are receiving fair price now. There has also been an increase in the price of natural rubber. The low returns, rice in the price of manure and other things due to Centre’s policy, fall in prices due to import have affected the farmers

Chief Minister Pinarayi Vijayan said that the Government is planning to exempt agricultural land of small farmers from revenue recovery. He moved a motion in the State legislature to this end, seeking changes to the Revenue Recovery Act in Kerala. A plea to make necessary changes to the SARFAESI Act was also made to the Central government. The exemption will be for land given as collaterals for loans up to Rs. Five Lakhs. The proposed legalisation will cover collaterals of up to One Acre in rural areas, 50 Cents in urban centres and houses of single home owners up to 1000 square feet.

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