New Delhi, May 25 -- In a major relief measure aimed at easing the financial burden on farmers, Tamil Nadu Chief Minister C Joseph Vijay announced on Monday a complete waiver of cooperative bank crop loans of up to Rs.50,000 availed by marginal farmers across the state and up to Rs.5,000 to large farmers.

According to news agency PTI, Vijay said the move would benefit 14.22 lakh farmers in the state and would entail an additional expenditure of Rs.2,044 crore to the government.

The waiving of crop loans obtained by farmers was among the numerous poll promises made by Vijay, the TVK chief, in the run-up to the April 23 Tamil Nadu Assembly election.

"Considering the current financial position and financial resources of the state governme...