Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday announced loan waiver of up to Rs 1 lakh, which would benefit farmers in the state.
The decision was taken at the first Cabinet meeting of the newly formed Uttar Pradesh government.
Briefing the media after the meeting, Health Minister Siddharth Nath Singh said that with this, the promise made by Prime Minister Narendra Modi and Bharatiya Janata Party President Amit Shah, during assembly polls to farmers of the state, has been fulfilled.
The move will cost around Rs 30,729 crore to the exchequer.
Uttar Pradesh has close to 2.3 crore small and marginal farmers who owe about Rs 62,000 crore to banks and cooperatives.