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K’taka to bring law to prevent auction of farmers’ property for delay in loan repayment: CM

K'taka to bring law to prevent auction of farmers' property for delay in loan repayment: CM

Bengaluru, Nov 5 (SocialNews.XYZ) Relief is in the offing for the farming community in Karnataka with the BJP government planning to bring a law to protect farmers' property from being auctioned in the case of delay in loan repayment.

"The state government will bring a law to check confiscation or auctioning of farmers' property for delay or non-payment of loan taken for agricultural purposes," Chief Minister Basavaraj Bommai said on Saturday.


Speaking at the valedictory function of Krishi Mela and distribution of awards to farmers on the GKVK campus here, Bommai said that in case of non-payment of agricultural loan, farmers must be given time for repayment and not confiscate or auction their properties.

"Instructions have already been given in this regard to the Department of Co-Operation and other concerned bodies. The departments are responding to the plights of the farmers. Economic development is fully dependent on the agricultural sector. The agricultural universities must take up research regarding agro-economics and give suggestions to the government. These varsities must work in tandem with the government and inform regarding new research and methodology," Bommai stated.

The state government will launch more farmer-friendly programmes, which will include giving loans to 10 lakh additional farmers from the current academic year.

"Farmers must also think scientifically, try new varieties to increase productivity and take up comprehensive agriculture," Bommai said.

Source: IANS

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K'taka to bring law to prevent auction of farmers' property for delay in loan repayment: CM

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