Agriculture Minister of Andhra Pradesh Somireddy Chandramohan Reddy on Monday announced the release of third installment under Crop Loan Waiver Scheme.
"We have started releasing the third installment. It comes upto 3600 crores. Till today, almost 7.89 lakh farmers came to take the third installment. We have already released 914.33 crores so far. The total amount will come to 3600 crores," said Reddy.
The Andhra Pradesh Government, in September, released Rs 3,600 crores for the third tranche amount of the third installment, under Waiver Scheme in the state.
The amount will be deposited in the accounts of the farmers with additional 10 percent interests.
Andhra Pradesh Government, under the leadership of Chief Minister Chandrababu Naidu, has been giving the first preference to the farmers.
"The CM has taken dynamic decisions to help the farmers," Reddy added.
According to Somireddy, the crop loan waiver is one of the promises of the Telugu Desam Party (TDP) during its election campaign. However, the government came under criticism for not fulfilling its promise.