It appears that the Agricultural loan waiver promised by Andhra Pradesh CM Chandrababu Naidu is likely to be initiated within fifteen days i.e by July 15. As part of the game plan, 90 per cent of farmers will get benefit in the phase one of the loan waiver program as promised during general elections.
The Naidu appointed Kotaiah committee has completed negotiations with RBI and other banks who all have more or less agreed to issue fresh crop loans in Khariff season to farmers without seeking payment of arrears. "Within a week the banks will take back notices and prepare an action plan to issue fresh loans following an agreement between Govt of AP and banks, ahead of budget," said a senior member of Naidu cabinet.
The crop loans taken on gold upto 4.85 lakh each is also being reviewed for waiver in the second phase during the Rabi season . "A final decision of support from the center in 2014-15 budget is being worked out by the finance ministry and approval by the PM Modi is pending," said a senior aide close to Chandrababu Naidu.