The AP government today issued authority letter to the SLBC to process the farmers loan waiver for nearly 3.7 lakh farmers in 13 districts of farmers with a corpus fund of Rs.25,000 crore. A special GO has been issued and also a circular has also been issued to all district co-op banks and SLBC to commence issue of fresh crop loans immediately.
The Chief secretary in coordination with the finance secretary has designed a special format which is linked to Aadhar card to release funds at the rate of Rs.1.5 lakh to farmers and Rs.1 lakh to each of the women SHG members towards their loan outstanding. 'Even those without the outstanding were deposited the government gratis of Rs. 1.5 lakhs' said a finance ministry source.
It may be recalled that while the T govt is yet to formally release funds to its farm loan waiver scheme (Rs.17,000 crore) the AP government has already commenced the exercise in view if the khariff season and the needs of the farmers for fresh crop loans which were withheld by the banks. The AP govt burden of farmers loan waiver is around Rs. 37,000 crore at Rs. 1.5 lakh per farmer etc (though the total burden is to the tune of Rs. 87,000 crore).