Andhra Pradesh Chief Minister Chandrababu Naidu, who promised loans waive off for the farmers, is mulling hard, how to implement his promise. He even setup a committee on this to look over the possible ways. But as a sudden shock to him, Reserve bank of india(RBI) made clear that they are completely against loan waiver scheme announced by the AP government. In a letter to the government of Andhra Pradesh, they expressed their opinion that the loan-waiver schemes would leads to a new culture of nonpayment, which impact the financial sector.
After knowing this many farmers started worrying about their loans.However Chandrababu is trying hard to address their concerns and here is the first step of Naidu It has been reported that Andhra Pradesh Chief Minister has contacted Raghurama Rajan, the RBI Governor to discuss the crop loan waiver issue. According to source today morning Naidu spoke to Governor Rajan over telephone and has explained the deplorable condition of Andhra farmers and that they are not in a position to repay the loans.
Chandra Babu has reportedly mentioned about the "Agricultural crisis" prevailing in the State for the last 10 years. He clearly explained him how farmers affected very badly in the last 10 years due to natural calamities, increase in cost of seeds ;no proper minimum support price etc.He even requested the governor to consider the case of Andhra Pradesh as special on as it was running with high budget deficit.RBI governor also reportedly responded positively to babu’s request.However official confirmation about this yet to come from TDP.
In case this is true then it could be saving grace and relief for Chandrababu Naidu and to his government, which is being targeted by opposition over the issue. However in reality the Reserve Bank has sent letters to the Chief Ministers of Andhra and Telangana, respectively objecting their plan/s to waive off crop loans which amount to thousands of crores.
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