AP CM discusses modalities for loan waiver scheme

TDP MP YS Chowdary on Friday informed that the Andhra Pradesh Government would finalise the modalities of loan waiver for farmers by this month end.

Speaking to media persons here, Chowdhary said that Chief Minister Nara Chandrababu Naidu had a detailed discussion on the issue with the Resource Management Committee on Friday. He said the final decision on modalities of loan waiver for farmers and also the DWCRA groups would be announced by this month. He also informed that the government was exploring the possibilities of floating a corporation to issue bonds to the farmers. This would enable the government to take off the loan burden from the farmers. The bonds could be used by farmers to get fresh loans and crop insurance. They can also be encashed at the corporation. He also attributed the delay in implementing the promise of loan waiver to lack of required data from the banks.

Chowdary said despite facing a revenue deficit of Rs 15,550 crore, the government was firm on waiving off loans for farmers and DWCRA groups.

Agriculture Minister P Pulla Rao, Finance Secretary PV Ramesh, Government Advisor Dr Parakala Prabhakar, Resource Management Committee member MB Rao and others were also present.