In a significant move, The Reserve Bank of India (RBI) has agreed to reschedule farm loans in Andhra Pradesh, state Finance Minister Y Ramakrishnudu said here today.
"When the Chief Minister (N Chandrababu Naidu) spoke to the RBI Governor today, he was informed that loans will be rescheduled. The RBI will write a letter on the details. Once the letter is received, we will take steps and let you know," he told reporters, when asked about the quantum of loans that would be rescheduled.
Replying to a query, he said that details about how many would benefit, how much money is involved and the number of years by which it would be rescheduled, would be known later.
State Agriculture Minister P Pulla Rao said that there would be no problem for farmers regarding kharif loans and that loans would be given on time.
Since farm loan waiver was a major Telugu Desam Party (TDP) poll promise before the recent Andhra Pradesh legislative assembly elections, the state government has appointed a committee of experts to make suitable recommendations on loan waiver.
Talking about other major issues on the occasion of the TDP government completing a month in office today, the finance minister said that enhanced pensions for senior citizens and disabled persons would be paid from October 2, as promised.
The TDP government has also taken all steps to shut unauthorised liquor shops as promised by the party, he said.
The NDA government is committed to set up several national-level educational institutions like IIT in the (new) Andhra Pradesh as mentioned in the Andhra Pradesh Reorganisation Act, he said.
"That is an Act passed by the Parliament. So, it is binding on the government," he said.
