Loan Waiver to Farmers is the Prime Poll promise of Telugu Desam Party and farmers are eagerly waiting for their loans to get waived. The opposition parties are hounding at the TDP government to fail in this promise.
However despite being in several pressure due to deficit budget, Chandra Babu wants to carry out the loan waiver at any cost.
It is said that the government some how pooled in 25000 Crore amount for the loan waiver. It has asked the banks for the details of farmers under some 30 odd issues.
The government is waiting for the final list from the bankers and it is ready to release the amount for loan waiver by October 2nd. Chief Secretary of Andhra Pradesh government, IYR Krishna Rao is meeting Reserve Bank of India Governor Raghu Rama Rajan on Monday on loans reschedule issue. He is making final effort to convince the apex bank to extend the loan reschedule for some more mandals.
Chandra Babu Naidu had announced a loan waiver amounting to 1.5 Lakhs per family which will make about 97% of the families debt free. Chandra Babu is also waiving off loans to the extent of 1 Lakh to each DWACRA group and weavers. This total loan waiver will be costing slightly more than 50000 Crores for the Andhra Pradesh which is greater than the annual budgets of several states in the country.