ONE YEAR MORATORIUM FOR REPAYMENT OF LOANS FROM GOVERNMENT AGENCIES

ONE YEAR MORATORIUM FOR REPAYMENT OF LOANS FROM GOVERNMENT AGENCIES

Chief minister Oommen Chandy, while briefing the cabinet decisions, announced a one year moratorium for repayment of loans taken from government agencies in the wake of increasing farmer suicides. The moratorium has been announced for loans taken from housing board and vegetables and fruit promotion councils. The decision was taken on the basis of a report by K Jayakumar. Apart from that, the government also decided to withdraw penalty on interests and those who had remitted loans on time would be given back 10 % of the interest.
It would set up a system where agricultural produce would be sold under supportive price mechanism. Start paddy collection in Wayanad too.The cabinet has also agreed to take needed action to help farmers from wild animal attacks and for that a committee would be formed with agricultural minister as chairman and minister from the district and MLAs as members and also include agricultural works in employment guarantee scheme. There would be a system to monitor micro financing institutions in Wayanad. 


                                                                          
                                                                   Prof. John Kurakar