Chandrababu Government has finally decided to set up a Corporation to issue bonds to farmers towards part payment of farmers loan waiver scheme.
TDP MP and chairman of Resource Management Committee on loan waiver Y.S. Chowdary says is committee suggested ways to raise the required money for loan waiver. The government will establish a corporation through which bonds would be issued to farmers which could be pledged for fresh loans and crop insurance. 'The farmers can also submit these bonds at the Corporation and encash them at a later date'.
Stating that Andhra Pradesh is facing a revenue deficit of Rs 15,550 crore he said the government is considered three formats of redeeming its commitment to farmers -
a) Immediate cash payments,
b) Issuance of bond certificates and
c) Installments system.