HC asks TN to waive loans of drought-hit farmers

CHENNAI: The Madras High Court directed the Tamil Nadu government to waive loans of all drought-hit farmers, also restraining cooperative societies and banks from recovering their dues. It also noted that the state's financial situation was grim and that it was single-handedly shouldering the debt burden in a drought year. A division bench comprising justices S Nagamuthu and MV Muralidaran gave the order of waiving the loans, while allowing a petition by National South Indian River Interlinking Agriculturists Association. "We are aware that the state's financial situation is grim. The government is already single-handedly shouldering the burden of £578 million and it will be an additional burden to bear £198.03 million."