Loan waiver first phase from Dec 10 in AP
HYDERABAD: The much delayed crop loan waiver scheme in Andhra Pradesh will be kicked off on December 10. In the first phase of the implementation of the scheme, crop loans below Rs 50,000 would be written off at one go.
Similarly, the government will deposit 20 per cent amount of above Rs 50,000 loans in farmers' accounts as part of first instalment payment. Later, the remaining amount including interest on it would be paid in four years time by way of issuing bonds to farmers.
To facilitate the implementation of the scheme in the first phase, the government would deposit Rs 5,000 crore through the Farmers' Welfare Corporation in the accounts of loanees.
While addressing mediapersons at his residence here, Chief Minister N Chandrababu Naidu announced how the government would execute loan waiver scheme. Naidu said the government had decided to complete the process of implementation of loan waiver in two phases. The scheme would cover loans taken up to Rs 1.5 lakh per family, he recalled.
Mentioning that total number of accounts through which farmers had availed crop loans are 82.66 lakh, Naidu said in the first phase the government had identified 40.43 lakh accounts as eligible for the scheme.
The first phase of the implementation of the scheme would be done from December 10.
Government will validate the remaining 42.23 lakh accounts in the second phase and execute the scheme for the genuine beneficiaries from Jan 14. Naidu said a call centre and grievance cell would be set up by Dec 9 to address the issues of farmers, who could not avail the loan waiver facility due to various reasons.
News Posted: 5 December, 2014
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