Finally, Naidu announces loan waiver scheme

Posted : July 21, 2014 at 8:24 pm IST by ManaTeluguMovies

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After dilly-dallying for almost a month, the Andhra Pradesh state government has finally cleared waiver farm loans up to Rs 1.5 lakh per each family benefiting almost 96% farmers of the state with a cut off period of 31 March of this year.

“The waiver also includes the gold loan taken by the farmers for agricultural purposes but the maximum limit for the each family will be Rs 1.5 lakh. This will also benefit all those who have paid their loans and who could not repay the loans, “Nara Chandrababu Naidu, chief minister of AP announced after a four hour long cabinet meet at the Lake View Guest house, the temporary office of the chief minister here on Monday.

The Loan waiver will also benefit 7,60,000 Dwcra groups in the state. Naidu announced that loans up to Rs 1 lakh have been waived adding an additional burden of Rs 7,600 Cr to the state exchequer. However the quantum of the waiver for the weavers of the state was not declared as the modalities have to be prepared. Earlier the Kotaiah Committee that the Naidu government has entrusted with the work of studying the loan waiver issue and suggests ways has submitted its report.