K'taka CM Kumaraswamy keeps promise, announces Rs 340 bn farm loan waiver

The average amount waived by the state per beneficiary in Karnataka would be about Rs 75,000, almost twice of that in UP at Rs 42,000 and Rs 34,000 in Maharashtra

In the maiden Budget of the Janata Dal (Secular)-Congress coalition government in Karnataka, Chief Minister H D Kumaraswamy (HDK) announced a farm loan waiver worth 340 billion to provide relief to 4.5 million farmers in the state, up to Rs 200,000 of overdue amount per farmer family. 

This upper limit makes the Karnataka scheme more liberal than similar schemes in Uttar Pradesh (UP) and Maharashtra, where the upper limit per beneficiary was Rs 100,000 and Rs 150,000, respectively.

As a result, according to Business Standard calculations, the average amount waived by the state per beneficiary in Karnataka would be about