Chennai, May 26:

The Tamil Nadu government has announced a crop loan relief scheme aimed at supporting farmers facing financial pressure due to rising agricultural input costs.

According to official information, eligible small and marginal farmers who availed crop loans through cooperative banks between May 1 of last year and February 28 of this year will receive loan waiver benefits of up to ₹50,000.

The scheme is expected to benefit more than 1.4 million farmers across the state. Officials stated that the financial impact of the initiative on the state government is estimated at around ₹2,044 crore.

The government has also introduced a slab-based relief structure for farmers with higher outstanding loan amounts. Under this mechanism, additional concession benefits ranging from ₹5,000 to ₹20,000 may be provided depending on the total outstanding dues.

Authorities said the implementation process will be carried out in accordance with Reserve Bank of India guidelines, and efforts are being made to complete the process within approximately two months.

The Department of Cooperation has reportedly completed preparations to ensure eligible beneficiaries receive assistance through proper banking channels.

Officials stated that the initiative is intended to provide financial relief to farming families and strengthen the agricultural sector in the state.