Alagiri warns of protests over non-waiver of interests of farm loans

Taking exception to the announcement of the Centre that farm loans, crop loans and tractor loans availed under agriculture loan schemes during the lockdown period were not eligible for waiver of interest on interest, Alagiri expressed shock over exclusion of agriculture loans under interest waiver scheme and said the farmers who were already distressed by the debt crisis would face testing times owing to the announcement.

Remarking that the Centre which did not consider waiver of farm loans has written off corporate loans, the TNCC chief, in a statement issued in this regard, said the future of farmers has been jeopardised by the government by not waiving interest on the interest of loans availed by them.

Asking the Centre to come forward to waive the interest and penal interest for the six-month lockdown period even if it could not waive loans, Alagiri suggested that the Centre could mobilise funds under Disaster Management Act for the interest waiver.

Reiterating that the three farm laws enacted by the Centre have deprived Minimum Support Price (MSP) for agricultural produce, the state Congress president said the farmers were left at the mercy of corporates and they were clueless as to where and to whom they should sell their farm produce.

Drawing the Centre’s attention to farmers’ agitations in many non-BJP ruled states, including Tamil Nadu, Alagiri said the Centre should waive the interest and penal interest on farm loans or the state Congress would organise massive protests.