The Karnataka Government has announced waiver of crop loans up to Rs 25,000 for farmers hit by drought. Chief Minister Jagadish Shetter made this announcement in the Legislative Assembly.This will burden the exchequer by Rs 3,500 crore, benefiting around 16 lakh farmers in the state.Reacting to the announcement in the Assembly today, Deputy leader of the Opposition Jayachandra asked the Government to fix the cut off date of loan as April 1,2011 instead of August 1 of last year.