PIL against AP Govt's loan waiver scheme
HYDERABAD: A public interest litigation was filed in the Hyderabad High Court challenging the order issued by the Andhra Pradesh government to waive off the agriculture crop loans and gold loans availed by the farming community.
Petitioner 'Lokseva', a society represented by its president M Srinivas Reddy of Ranga Reddy district, submitted that the government's decision, vide GO 174 dated August 14, 2014, to apply loan waiver scheme to the whole state irrespective of financial status of the people to repay the loan amount would end up crippling the agricultural credit system.
The government needs to rethink its decision and instead consider a relief package for the distressed farmers. The funds needed to such a scheme would be in excess of Rs 42,000 crore.
Ministry of finance, Reserve Bank of India, chief secretary to AP government, TDP, YSR Congress and others were named as the respondents. The PIL is expected to come up for hearing on Monday.
News Posted: 19 October, 2014
|
.gif)
