Andhra Pradesh CM Chandra Babu Naidu announced his Government decision on loan waiver couple of hours ago in his interaction with media at Hyderabad. Chandra Babu Naidu after cabinet meeting with ministers and important leaders took the major policy decision.
Here are the important highlights
– Loans under Rs 50000 will be waived off on single payment.
– Loans above Rs 50000 then 20% will be paid in five installments
– Of the 43 lakh selected for first phase, 40% of them have 50k loans. All of them will be loan free once the policy is implemented.
– If any farmer has for eg 60k loan, then 20% ie 12k will be paid first and the remaining four installments with 10% amount will be paid.
– From Dec 10-15 Chandra babu along with local MLAs or leaders will hand over letter and bonds to farmers. Even Mirchi, turmeric are considered as farms and loans for those farmers will also be waived.
– Economic status of farmers under 50k loans will not be considered. Economic status for loans above 50k will be considered.
– Officials stated that even UPA govt followed the same policy in 2008.
– Farmers who did not submit any documents till now, once they submit to banks will be considered and their loans be waived once in every 15 days.
Recent Random Post:
