TS Govt moots issuance of bonds to farmers HYDERABAD: With the Reserve Bank of India turning down rescheduling of crop loans, the Telangana government has decided to find a way out in four or five days.
'We are finding alternatives like issuing bonds to farmers and others. A final decision will be taken soon,' chief minister K Chandrasekhar Rao has said.
Rao held a meeting with bankers at the Secretariat here on Tuesday and also spoke with RBI governor Raghuram Rajan.
'As the bankers are imposing several conditions to reschedule crop loans, we have to find alternatives. The TRS government is committed to waiving crop loans of each farmer up to Rs 1 lakh. The modalities will be worked out in such a way that the farmers will not get confused,' he said.
Rao asked bankers to give fresh crop loans for the current agriculture season. On the loan waiver, the government was seriously exploring the option of issuing bonds to farmers. 'At any cost, the loan waiver will be implemented,' he assured farmers.
He directed the officials to implement the crop loan waiver without confusing the farmers on rules and regulations.
He directed the cabinet sub-committee on crop loan waiver to meet the officials concerned on Wednesday. As the agriculture minister, who is the chairman of the sub-committee, will be on official visit to Delhi on Wednesday, the committee will meet under the chairmanship of irrigation minister T Harish Rao.
Budget Estimates sent for GUV approval
As the first budget session of the Assembly will be conducted after Dasara, the chief minister sent the budget estimates for October and November months for approval of the governor.
'As per the AP Reorganisation Act, we have the provision to seek the intervention of the governor till December 2. We are utilising it,' the chief minister said. Rao added that the government would also submit a memorandum to the visiting members of the 14 Finance Commission on September 19.
News Posted: 17 September, 2014
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