CPI urges Centre to maintain status quo in farm loan interest

: Charging NDA government at the Centre of pursuing 'an anti-farmer' policy, CPI today asked it to maintain status quo with regard to the interest rate for agricultural loans, which was hiked from seven per cent to 11 per cent a few days ago.
The party, in a resolution at its two-day meet at nearby Tirupur, noted that farmers were taking loans at the rate of nine per cent for purchasing agricultural implements or by pledging gold, with the Government providing a two per cent subsidy. So total interest rate worked out to seven per cent.
Moreover,Government was providing another three per cent incentive for farmers who repay loans on schedule. So they were getting loans at the rate of four per cent, it said.

CPI said it was not fair for the Centre, which has given various concessions and exemptions to corporates and big businesses to the tune of Rs 5,48,451 crore, to do so, the resolution asked government to reconsider the decision to hike the interest rate, considering the plight of poor farmers.
In another resolution, the committee demanded a CBI inquiry into the killings of 20 Tamil woodcutters in Andhra Pradesh and urged both the Tamil Nadu and Andhra Pradesh Governments to register murder cases against those involved.
The committee also sought the Centre's immediate intervention to prevent Karnataka from constructing dams at Mekedatu, which they said, affects farmers of Tamil Nadu.

It also urged the Centre to take immediate steps to constitute the Cauvery Management Board, to protect the rights ofb Tamil Nadu sharing Cauvery waters.
CPI All India General Secretary S Sudhakar Reddy, National secretary, D Raja, Gurudas Dasgupta, senior leaders R Nallakkanu, D Pandian, Tamil Nadu unit Secretary, R Muthurasan and many sitting and former MPs and MLAs from the state addressed the meeting, to which mediapersons were not allowed.
Copies of the resolution were later given to reporters.