Hyderabad: The Andhra Pradesh government has decided to waive Rs 1.5 lakh of crop and gold loans per family and Rs 1 lakh for each Dwcra self-help group. The government also waived loans for handloom weavers and SC borrowers. Farmers who have repaid their loans will get Rs 1.5 lakh.
Announcing the decision after a meeting of the Cabinet, Chief Minister Chandrababu Naidu said the “courageous decision” on loan waiver would cost the government over Rs 46,00 crore. He announced the appointment of a commission to mobilise funds for the purpose. According to sources, TD MP Sujana Chowdary would head the committee.
Read: New twist to loan waiver
Mr Naidu said that the government had taken a “courageous decision on the waiver of farm loans on humanitarian grounds.”
He said the government was waiting for a response from the RBI on rescheduling of crop loans. If the RBI agreed to reschedule the loans, the farmers could borrow again. Otherwise, the state would pay the banks.
Read: Andhra Pradesh government to waive farm loans of up to Rs1.5 lakh per family
