Uttarakhand CM refuses to waive off farmers' loans

New Delhi: Uttarakhand Chief Minister Trivendra Singh Rawat on Friday said the state was not in a position to waive farmers' loans but plans to instead provide soft loans to them.

"We cannot afford to waive farmers loans in the state," Rawat told reporters here while addressing a press conference to highlight the work of his government in the state.

The BJP Chief Minister said as his government is already reeling under a debt of Rs 45,000 crore it has planned to give soft loans to farmers at very nominal rate of interest.

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"Our government has decided to give loans to farmers at two per cent interest, which they can use for any activities," he said.