AP to waive Rs 1.5 lakh loan per family HYDERABAD: After 43 days of vigorous exercise, Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday approved a whopping Rs 43,000 crore loan waiver scheme for farmers, weavers and women self-help groups in the State.
Naidu announced that the government would waive up to Rs 1.5 lakh of crop loan for each family across the State, including gold loans taken for agriculture purpose.
A maximum amount of Rs 1 lakh loan would be written off for each women SHG apart from relinquishing the loans availed by weavers and SCs, he added. According to Naidu, because of this 'largesse', the burden on the exchequer would be to the tune of Rs 43,000 crore. He, however, exuded confidence that the cash-strapped government would achieve this Herculean task by pledging government assets to banks.
'All crop and DWCRA loans taken before March 3, 2014, are eligible for availing the loan waiver scheme. According to preliminary estimates, around 85 lakh farmers and 7.64 lakh DWCRA groups would be benefited from the waiver scheme,' he said.
Naidu said a final report on the total number of beneficiaries would be compiled after getting the data from various banks, which had given loans to the farmers and DWCRA groups.
News Posted: 21 July, 2014
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