Andhra Pradesh Chief Minister N Chandrababu Naidu would inaugurate the newly-constituted Farmers Empowerment Corporation at Gannavaram in the district on October 21 at a farmers' rally.
The state government constituted the corporation with a corpus of Rs 1 crore with a primary purpose of clearing farmers' loans to banks in five instalments as part of the loan waiver for farmers announced by the state government.
"The chief minister would address farmers so as to clear their doubts on loan waiver scheme and his commitment on the loan waiver," said Krishna district Collector M Raghunandana Rao in a review meeting with senior officials held here today.
Initially, the Corporation would clear to the extent of 20% of farmers. Loans to banks in this financial year and later in four annual instalments.
