Remember, It was severe drought between 1999 and 2004 that made then Chief Minister Chandrababu Naidu sit in the Opposition. Now, Our Political Chanakya is using the same drought and cyclone card to fulfill his biggest poll promise Farm Loan Waiver.
TDP Government is seeking rescheduling of loans that would directly benefit 35 lakh farmers in 582 mandals of Andhra Pradesh citing they were in dire state either due to drought or cyclone. Recently, Naidu sent a letter to RBI declaring 462 mandals as cyclone effected and other 119 mandals as drought hit.
Reserve Bank of India (RBI) which objected TDP’s farm loan waiver scheme promised to consider the AP Government’s plea of rescheduling the farm loans based on merit. Loan Waiver or Rescheduling the Loan were almost one and the same as TDP Government is more than willing to pay the high interest rate to banks for certain period of time. If RBI gives directions to Banks to reschedule the loans, Farmers needn’t pay the debts for 2 years and also receive fresh loans during this period. Hope, Naidu’s strategy works!