Despite the fact that Chandra Babu Naidu sworn in as the first Chief Minister of residuary Andhra Pradesh (on June 8, 2014) only six days after his counterpart KCR sworn in as Telangana CM (June 2), Naidu did prove his mettle. Taking everyone by surprise he scored biggie over KCR.In what is seen as the first major achievement of Naidu, Reserve Bank of India has cleared the crop loan rescheduling in Andhra Pradesh which is Naidu’s popular poll-promise. Contrary to AP government’s seven years of rescheduling request, RBI reportedly agreed it for three years.
Although KCR-led Telangana government too on its way to get RBI’s nod, the fact that AP got first approval proves Naidu’s commitment, expertise. Despite that AP has deficit budget and Telangana has surplus budget and Naidu’s promise to waiver of loans without any limit, Naidu could able to convince RBI. Naidu’s effort in the issue can’t be ignored as he has personally spoken to RBI Governor Raghuram Rajan several times and even visited Delhi to get the things settled.
The latest move by RBI makes way for farmers in AP to get fresh loans from banks. Finance minister Yanamala Ramakrishnudu, agriculture minister P Pulla Rao and communication advisor Parakala Prabhakar confirmed that RBI Governor Raghuram Rajan had told Chandra Babu Naidu on this and an official letter from RBI is awaited in next two days. This is certainly a big relief to farmers and big victory by Naidu’s government. Great going Babu.