UP writes off R1,650-crore farm loans on Mulayam’s birthday

The SP had promised, before the state elections, that if voted to power, loans of up to R50,000 would be waived, provided farmers had repaid at least 10% of the loan amount by March 31. The remaining amounts, including interest, is being waived, Yadav said. The chief minister added that the SP had also promised to abolish the provision of auctioning mortgaged land against which loans had been taken.“It is our belief that unless farmers prosper, the country will not move forward. It is our endeavour to continue taking decisions that will prove beneficial to the farmers,” he said.