Andhra Pradesh state government is preparing ground for the prestigious loan waiver scheme.It is planning to adopt pyramid model while carrying out the loan waiver scheme.
According to guidelines prepared by state government farmers who have loans ranging from 25000 to 50000 will become debt free first.
According to source Government is planning to release 10000 Crores as the first installment for the loan waiver.It is said that 48% of the loans with the banks are below 85000. 25% farmers have loans between 85000 and 150000. So government has decided to clear the loans from the bottom.
It is known that Loan Waiver for farmers and women self help groups is one of the prime poll promises of Telugu Desam Party and now the party is under pressure to deliver it so as to improve its credibility in people.
Recently Agriculture Minister Pulla Rao said that despite being in a severe financial crunch, Andhra Pradesh is committed to do the loan waiver to the farmers. 5000 Crore was allocated for this in the budget and Government is looking at various ways to accommodate funds for the remaining.
According to guidelines prepared by state government farmers who have loans ranging from 25000 to 50000 will become debt free first.
According to source Government is planning to release 10000 Crores as the first installment for the loan waiver.It is said that 48% of the loans with the banks are below 85000. 25% farmers have loans between 85000 and 150000. So government has decided to clear the loans from the bottom.
It is known that Loan Waiver for farmers and women self help groups is one of the prime poll promises of Telugu Desam Party and now the party is under pressure to deliver it so as to improve its credibility in people.
Recently Agriculture Minister Pulla Rao said that despite being in a severe financial crunch, Andhra Pradesh is committed to do the loan waiver to the farmers. 5000 Crore was allocated for this in the budget and Government is looking at various ways to accommodate funds for the remaining.