The Karnataka government has decided to give loans of Rs 8,000 crore to 20 lakh farmers in the state, said the State Co-operation Minister HS Mahadeva Prasad on November 17. The State government has already covered 10.50 lakh farmers and distributed Rs 4,400 crore.
The government had released Rs 3,600 crore for short-term and long-term loans during the previous year, he said. Mahadevaprasad said that around 80 per cent of the short term loans have been recovered.
He said the government is keen to put an end to the monopoly of long-term account holders who avail loans repeatedly from co-operative societies and banks.
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