Does CBN fulfill his first Election Promise?

Posted : July 8, 2014 at 11:07 pm IST by ManaTeluguMovies

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Both Congress and YSRCP have ready to attack on AP Chief Minister CBN if he fails to fulfill election sop on waiving of farmer loans. CBN was made his first signature on this after him taking the charge of Andhra Pradesh. From then onwards, he is searching for various possible methods to fulfill the given promise. He formed a committee to finalize huge amount by waiving the loan. CBN had met RBI Governor Raghuram Rajan on this.

As per the sources, CBN draws flak from both RBI Governor and Arun Jaitely on waiving of loans. RBI Governor asked Banks in AP not to re-schedule fresh loans to farmers until they cleared debts in Khariff season. Adamant Chief Minister requested RBI Governor on re-scheduling of loans and told to the reasons for Waving of Loans. At last, RBI Governor agreed for re-scheduling loans to the farmers.

CBN share this information in tweet. He made a call to RBI Governor and get approval. As per the analysts, CBN has reduced half-of his burden on given election promise. It’s up to CBN to search for income resources for waiving loan. It might be around 30K crores to give the benefit the farmers. CBN is seeking to get approval from Central Government to make an auction for Red Sandalwood logs. It will be shock to both YSRCP and Congress in the state if CBN waive all loans to the farmers.