Bhopal: Within few hours after taking over as the Chief Minister of Madhya Pradesh, Kamal Nath on Monday signed off on a massive farm loan waiver promised by the Congress during its poll campaign.
“The new Chief Minister did in two hours what he had assured he would do within 10 days of taking power,” the Congress in Madhya Pradesh tweeted.
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According to reports, the loan waiver will cost at least Rs. 50,000 crore. Loans up to Rs. 2 lakh will be waived from nationalised and co-operative banks till March 31.
Congress president Rahul Gandhi tweeted, “1 done, 2 to go.” Mr Gandhi was referring to similar promises the party made in Rajasthan and Chhattisgarh.
CM, Madhya Pradesh, waives farm loans.
1 done.
2 to go.
— Rahul Gandhi (@RahulGandhi) December 17, 2018
Loan waivers were an important issue in the recent state elections. The BJP, which ruled Madhya Pradesh for 15 years before losing last week, is seen to have suffered most in parts of the state with more rural and farm distress. Rahul Gandhi launched the party’s campaign in Mandsaur, the epicentre of farmer anger and protests, and promised loan waiver.
“I want to ask the banks and economists that when you waive off loans of huge industrialists, it doesn’t bother you but when it’s about farmers, then you get a stomach ache?” Kamal Nath said during a press conference soon after signing the papers.