The Farmers loan waiver in 2008 by the UPA Government was the biggest scam in the country where in instead of Farmers of loans, the govt waived the loans taken by he Micro financing companies in bogus names of farmers.
AP CM informed the cabinet yesterday as per the CAG report there has been a scam of Rs. 15000 crore in the farmers loan waiver of Rs.60,000 crore by the UPA in 2008. ‘Instead of farmers loans directly, the Banks waived loans of micro finances in 20 states’ he informed.
CAG report was based on social auditing in 90,576 fa4rmers accounts in 92 districts of 25 states involving 715 bank branches. ‘UPA exploited even the farmers loan waiver scheme to fill the coffers of the congress leaders which in turn filled up the congress party funds.