Karnataka elections results LIVE: Soon after taking oath as the chief minister of Karnataka, BS Yeddyurappa called his first Cabinet meet and decided to waive loans of 1 lakh farmers. This was also one of the campaign promises of the BJP. Yeddyurappa was sworn-in today despite his party falling short of the full majority (112) in the Karnataka Assembly. The matter is also under consideration in the supreme court. Yeddyurappa would soon likely have to prove majority on the floor of the house in Karnataka. 1.42 pm: Congress party will stage a dharna at 2.45 today at Rajghat in Delhi. 1.13 pm:\u00a0Senior lawyer Ram Jethmalani speaks on Karnataka politics: "'What has BJP said to Guv, that he did such a stupid action? Order of Guv is open invitation to do corruption.' Jethmalani has approached SC against Karnataka Guv's invitation to Yeddyurappa for forming govt." #WATCH Senior lawyer Ram Jethmalani speaks on Karnataka politics, says, 'What has BJP said to Guv, that he did such a stupid action? Order of Guv is open invitation to do corruption.' Jethmalani has approached SC against Karnataka Guv's invitation to Yeddyurappa for forming govt. pic.twitter.com\/uLa0oXcPQZ \u2014 ANI (@ANI) May 17, 2018 1.06 pm:\u00a0Amid the ongoing political turmoil over government formation in Karnataka, the Congress and Bharatiya Janata Party presidents indulged in a war of words on Twitter over democracy. Karnataka government formation: To Rahul Gandhi\u2019s \u2018murder of democracy\u2019 charge, Amit Shah declares war against Congress on Twitter 12.40 pm:\u00a0BJP MLA B Sriramulu says, "Independent MLAs hamare touch mein hain, kaam ho jaega. (Independent MLAs are in touch with me. Work will be done). \u2018Aisa Pakistan me hota Hai\u2019: Rahul Gandhi triggers controversy 12.43: Why Yeddyurappa farm loan waiver announcement is a bad idea?\u00a0Amid the intense agrarian crisis, farm loan waivers are popular political move, which experts see merely as a \u2018quick-fix\u2019. Speaking with FE Online recently Sameer Narang, Chief Economist, Bank of Baroda said that farm loan waivers help, but temporarily. Moreover, it affects the credit system in the country. READ More - Karnataka\u2019s new CM announces farm loan waiver; here\u2019s why it\u2019s a bad idea 12.33 pm: Reports say that in a bid to keep their respective flock together, JD(S) may shift its MLAs to Hyderabad or Andhra Pradesh while the Congress MLAs will move to Kerala ahead of the floor test. 12.06 pm:\u00a0Rahul Gandhi launched a vicious act against BJP, Modi and Amit Shah in Chhattisgarh today. Gandhi said, "A murder accused (Shah) is leading the main national party of the country."\u00a0 ANI quotes Gandhi as saying, "RSS is making way into all institutions in the country. Aisa Pakistan ya tanashahi mein hota hai. Haryana mein kaha gaya ki agar koi 8th ya 10th pass nahi hai toh woh panchayat ka chunav nahi lad sakta, yeh MPs aur MLAs ke baare kyun nahi kaha gaya? Today constitution is being attacked. In Karnataka on one side there are MLAs standing and on the other side the Governor. JD(S) has said its MLAs have been offered Rs 100 crore each," Gandhi said in Raipur. 12.04 pm: Rahul Gandhi\u00a0reacts - Congress President Rahul Gandhi today hit out at the BJP over its \u201cirrational insistence\u201d to form the government in Karnataka despite \u201cnot having the numbers\u201d and said that while the saffron party will celebrate its \u201chollow victory\u201d, India will mourn the \u201cdefeat of democracy\u201d. Rahul Gandhi hits out at BJP; says while BJP celebrates its hollow victory, India will mourn defeat of democracy 11.40 am: Yeddyurappa speaks after his first Cabinet meet - Addressing media after swearing-in, Yeddyurappa said: "JDs have allied after the polls. I am 100% sure that I will be successful as the CM. People want BJP government. I am sure that the MLAs will back me. I very well know that all MLAs will vote for me.\u00a0 It is not required to talk about the support of the MLAs. I thank Modiji and Amit Shah ji." The CM further said: "We have decided to waive off loans of lakh farmers taken from public and cooperative banks.\u00a0 The farmer community can have my confidence. I shall deliver this promise as the chief minister." Read Karnataka government formation Highlights "SC, ST, and OBCs have supported BJP. I congratulate all people for giving us the mandate. Congress and JD(S) have formed an unholy alliance after the polls. It is before the Supreme Court to discuss about Congress and JD(S). I will not comment on it. I am going to complete 5-years term." "I will not wait for 15-days to prove majority on the floor of the House. I will do it as soon as possible," the Karnataka CM said.