Rajasthan CM announces waiver of farm loans up to Rs 2 lakh

The Ashok Gehlot government in Rajasthan announced waiver of farm loans from cooperative banks and loans up to Rs 2 lakh from other banks on Wednesday, two days after assuming power. The waiver will cost the state exchequer 18,000 crore, according to news agency ANI. The move follows similar announcements from Madhya Pradesh and Chhattisgarh, where recent assembly elections had thrown up Congress as the leading party. All Congress governments have been promising farm loan waivers within 10 days of coming to power.