2 min readAizawl/nashik/hyderabad, HyderabadDec 5, 2014 03:05 AM IST
First published on: Dec 5, 2014 at 03:04 AM IST
Chief Minister N Chandrababu Naidu Thursday announced the roadmap of the farm loan waiver scheme in Andhra Pradesh, promising to repay in two phases loans availed by farmers from April 1, 2007 to December 31, 2013.
The process would begin from December 10, starting with the waiver of loans of up to Rs 50,000. In a major relief to tenant farmers, Naidu announced that if both the tenant and owner of land have taken loans, the tenant farmer would be given first preference for the waiver. The government is accepting Aadhar and ration card as identify proofs. If both documents are unavailable, a voter identity card will do.
Naidu said loans up to Rs 50,000 would be waived off in one go. In cases where the amount is more than Rs 50,000, 20 per cent redemption will be done now, and remaining 80 per cent will be adjusted on annual basis over the next four years.
Banks have identified 82.66 lakh loan accounts and the AP government has cleared 40.43 lakh loan accounts for the waiver in the first phase. The CM said debts of 26.77 lakh farmers have been cleared in the first phase. In the second phase, 42.23 lakh accounts are proposed to be cleared. In the second phase, the government will issue certified bonds to banks with an interest of 10 per cent to waive off loans in four sub-phases, Naidu said.
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