CBN to make official announcement on loans waiver

A crucial meeting on crop loans waiver and land acquisition was held at CM Chandrababu Naidu’s chamber in Secretariat with the ministers sub-committees formed to deal with the issues on Wednesday evening.

Agriculture minister Prattipati Pulla rao speaking to media said that we have decide to clear the crop loans below Rs.50, 000 initially and issue bonds to above Rs.50, 000. “We have identified out of the 83 lakhs crop loans accounts only 43 lakhs are eligible for waiver and 16 lakhs accounts in rest of the accounts have to link up their bank accounts with Aadhar cards to avail the loan waiver. CM Chandrababu Naidu will speak to media on Thursday to announce his decision on all types of loans. However, we have decided to clear 20 percent of the loans before commencement of Assembly sessions,” said the minister.

If, the state government even clears the loans below Rs. 50, 000, it narrows the scope of criticizing by the opposition parties, especially YSR Congress party that is gearing for statewide dharnas on December 5th.