Panel on loan waiver to submit report to Naidu today
HYDERABAD: Andhra Pradesh Chief Minister N Chandrababu Naidu has intensified steps to formulate modalities for implementation of crop loan waiver scheme.
At a time when several bankers along with Reserve Bank of India were rejecting Naidu's reported proposal of issuing long-term security bonds to bankers in lieu of hard cash for waiver of crop loans, a committee of experts set up to suggest ways and means on how to implement the scheme effectively, is expected to submit the interim report to the chief minister.
According to sources, the panel headed by former Nabard chairman P Kotaiah has finalised its draft interim report. One option is waiver of loans up to `one lakh. Second one is, waiver of loans up to `1.5 lakh and the third proposal being waiver of `one lakh irrespective of the amount taken by the farmers.
As far as wavier of gold loans taken for agriculture purpose are concerned, the committee is expected to suggest to the CM to waive gold loans up to `one lakh if taken on the name of wife of the respective farmer.
Though the committee is expected to submit its interim report to Naidu on Sunday, according to TDP sources, total clarity on the modalities of the loan waiver scheme would come only after Naidu's visit to Delhi, scheduled to take place on June 25.
News Posted: 22 June, 2014
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