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Loans of women members of SHGs, jewel loans of poor will be waived: Palaniswami

The TN CM said he had overcome crises right from the day he assumed office in 2016

palaniswami jaya Tamil Nadu CM Edappadi K. Palaniswami, with a photograph of Jayalalithaa by his side | Official Facebook account

Loans availed from cooperative societies by pledging jewels upto six sovereigns and pending loans of women members of Self Help Groups in co-op banks and societies would be waived, Tamil Nadu Chief Minister K. Palaniswami announced on Friday.

Representations were made by SHG members that they were not in a position to repay loans taken from cooperative banks and societies in view of the COVID-19 pandemic, Palaniswami said in the Assembly adding they requested loan waiver.

Hence, to provide succour, pending loans of poor women members of SHGs would be waived, he said in a statement in the House.

Presently, "more than one lakh SHGs are functional and in such groups over 15 lakh women are members.A majority of women in such groups belong to poor families that are below the poverty line," he noted.

Similarly, the poor and ordinary people and agricultural labourers are facing great difficulties in repaying loans secured after pledging jewels, he said.

They had taken such loans from cooperative societies to tackle financial distress caused by the COVID-19 pandemic, he noted.

Though the spread of the virus has declined to an extent, the economy has not recovered fully, he said.

Considering the inability of farm labourers and the poor in repaying jewel loans, representations received from them and the views of economic experts, he said loans availed by pledging jewels, up to six sovereigns would be waived.

The goal is lofty, which is to help poor people and "Amma's government waives jewel loans up to six sovereigns availed from cooperative societies."

The move is to help the poor who borrowed after being hit by the pandemic induced economic slump and could not now clear their dues, he said.

Later, talking to reporters, he said he had overcome all crisis right from the day he assumed office in 2016 and was using his experience as a farmer to reach out to the people as one among them to alleviate their suffering.

The AIADMK regime dealt with droughts, cyclones, "anarchy" created by the DMK and even the COVID-19 pandemic, he said.

"Whether it was waiving crop loans of Rs 12,110 crore for 14.43 lakh farmers, jewel loans taken by farmers and poor from cooperative banks or loans of women SHGs,all the announcements were made with the peoples well-being in mind," he said.

From April 1, farmers would be provided three-phase power connections for agricultural pump sets, he said.

The crisis he faced from day one included being asked to prove his majority in the floor of the assembly.

"The opposition DMK made all attempts to pull down my government and even break the AIADMK. I overcame all crisis and trials and have successfully completed four years.

Now the Amma (AIADMK) government has completed its term, Palaniswami said.

The chief minister said he grew up in a family of farmers and it was only because he knew the problems of the people that he was able to announce and implement various programmes for their welfare

"I have been reaching out to the people as one among them, Palaniswami said.

He accused DMK president M.K. Stalin of undertaking false and malicious propaganda against him.

"It is the wont of the opposition party to utter anything. But those in power will have to ascertain facts and feasibility before announcing any initiative, he said

"The DMK created anarchy and even petitioned the Governor, alleging corruption against me," he said and asked how corruption can take place in e-tenders.

A majority of projects are implemented with funding from the World Bank, which approves the tenders.

"Where is the scope for corruption to creep in? the chief minister asked.

On Stalin flaying the government for raising the maximum retirement age of employees to 60 years, saying it will affect the prospects of youth, he said his government had worked out projects to ensure employment to 10.50 lakh youth through 304 MoUs signed at Tamil Nadus Global Investors Meet 2019, for which the firms have committed to invest Rs 3,00,431 crore.

On the states overall estimated debt of Rs 5.7 lakh crore with the government intending to borrow Rs 84,686 crore, he said states depended on borrowing to implement programmes.

"No government announces schemes with funds in hand. People are more important to us. When problems arise, then peoples well-being becomes all the more important. We borrow only for developmental work," he asserted.

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