Karnataka Drought: SLBC urged to restructure loan repayment period

Belagavi: Agriculture Minister, N Chaluvaraya Swamy, on Tuesday said that the State Level Bankers Committee (SLBC) has been asked to restructure loan repayment periods in light of the prevailing drought conditions in the state.

Responding to a calling attention motion presented by MLC K Govindaraj, Minister Swamy stated, "The SLBC has been directed to restructure the repayment duration of crop loans for farmers, from short-term to either medium-term or long-term, following RBI guidelines due to the drought situation."

Providing insights into the government's strategies to address the drought, Minister Swamy said that a sum of Rs 324 crore was disbursed to Deputy Commissioners in October. This allocation is earmarked for initiatives related to drinking water supply, gaushalas, maintenance of fodder banks, and other emergency drought management efforts anticipated in the near future.

Highlighting the severity of the drought, Minister Swamy reported that out of the 236 taluks in the state, 223 have been officially declared as drought-hit. As per the joint survey report conducted by the revenue, agriculture, and horticulture departments under the guidance of Deputy Commissioners, a substantial 48.17 lakh hectares of crops have suffered damage. This includes 46.11 lakh hectares of agriculture and 2.06 lakh hectares of horticulture.

In response to the crisis, the state has formally approached the Central government seeking financial assistance.