Finance Minister P. Chidambaram announced that the size of farm debt loan waiver and one time settlement scheme has increased to Rs 71,860 crore from earlier announced Rs 60,416 crore.
The Union Cabinet which met on Thursday also approved guidelines for execution of the plan.
“It has taken me two months to draft the scheme and with the cabinet approving the guidelines today the scheme has taken off as off this moment,” Mr. Chidambaram said.
Besides raising the total cash outgo, there are some other changes that have been made to the plan.