Chennai, May 25 -- Tamil Nadu Chief Minister Vijay on Monday announced a waiver of crop loans up to Rs 50,000 for marginal farmers who borrowed from cooperative banks. He further said that larger farmers who have availed crop loans through cooperative banks will receive a relief of Rs 5,000.

The scheme is expected to benefit 1,422,000 farmers and will result in an additional government expenditure of Rs 2,044.46 crore.

Reflecting on the scale of the relief package, TVK leader and Tamil Nadu minister CTR Nirmalkumar, while talking to the reporters, said, "Around 1,692,000 farmers have got the agricultural loans, out of which 1,422,000 farmers' loans have been waived off today. This was one of our election promises..."

Earlier, a review ...