Struggling To Generate Funds, Kumaraswamy Seeks Centre’s Help To Back Karnataka Farm Loan Waiver Karnataka Chief Minister H D Kumaraswamy at a press conference in New Delhi. (Sanchit Khanna/Hindustan Times via GettyImages) 

Karnataka Chief Minister H D Kumaraswamy, struggling to find funds to fulfill his election promise of farm loan waiver, has urged the Union government to provide 50 per cent financial support for the initiative, said a report in The Hindu.

While addressing the fourth meeting of the Governing Council of NITI Aayog in New Delhi, which was chaired by Prime Minister Narendra Modi, Kumaraswamy devoted most part of his address to the issues related to the farm crisis.

“In Karnataka, about 85 lakh farmers have debts on account of agricultural loans from banks. Due to recurring droughts, the distress of the farmers is even more severe. I request the Government of India to provide 50 per cent support for our loan waiver initiative,” he said.

Kumaraswamy's Janata Dal (Secular) and Congress had promised to waive off farm loans if they came to power. Just days after taking oath as Chief Minister, Kumaraswamy had said that he would not hesitate to resign if he is unable to waive farm loans. During a meeting with farmers in May, he had sought a week’s time to take a decision on the issue.

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