Information Technology Minister K Tarakarama Rao on Tuesday clarified that the State Government was not rescheduling the agricultural loans taken by the farmers, but it was waiving them off.
Addressing a meeting organised by the FICCI here, KTR said that the government was taking serious steps to waive off the farms loans. He said that the government was holding consultations with the officials concerned to fulfill its promise. He said that the government would soon come out with a final announcement on the farm loan waiver.
KTR said that the government would introduce reforms to strengthen the functioning of Panchayat Raj system in the State. He said that the government would liberate the gram panchayats from the clutches of administrative and bureaucratic hurdles and the State Cabinet would soon take major decisions in this regard. He said that economy of farmers would be improved through micro-finance and other measures.