Southern States - Andhra Pradesh-Hyderabad   

APCOB unveils land purchase scheme

By Our Special Correspondent

Hyderabad June 25. The APCOB has announced "land purchase scheme'' for enabling small/marginal farmers to buy their tenancy holdings subject to a maxium of five acres of non-irrigated land or 2.5 acres of irriated land.

The basic value of the land as per the records of the sub-registrar office concerned or market value as assessed by the bank whichever is lower will be treated as ''unit cost''.

The arrangement will be that the bank will give a loan meeting 80 per cent of the cost of the unit, repayable in nine years, while the beneficiary will have to remit 20 per cent as ''margin money.''

Giving these details at a press conference here today, the APCOB chairman, T. D. Janardhan Rao, and its MD, D. Chakrapani, said, the entire amount from the bank would be released directly to the vendor.

There would no limit to funding under the scheme because it was entirely refinanced by the NABARD.

The Chairman and the MD also disclosed that while a target of Rs 1,800 crores was fixed for kharif of 2003-04 and Rs. 200 crores for rabi, a disbursement of Rs. 250 crores had been made so far against the kharif component.

As part of long-term loaning policy for the year, special thrust was given to micro-irrigation with the allocation of Rs. 200 crores.

Using these loans, farmers could purchase drip/sprinkler systems. Modalities were also finalised for lending Rs. 100 crores for "other agricultural activities'' subject to certain recovery rate by primary agricultural cooperatives societies (PACS).

Mr. Rao and Mr. Chakrapani said recovery (of the last year's loans) should be 70 per cent if the loans under "other agricultural activities'' were for sheep, bullocks, bullock-carts, 60 per cent for mechanisation, including tillers, wasteland development, poultry, fisheries, etc, and 50 per cent for minor irrigation works. The recovery rate, however, should be 40 per cent in case of loans sought for micro-irrigation projects.

The Chairman and the MD appealed to farmers to clear their outstanding dues/arrears by using the One-Time Settlement scheme with the payment of 75 per cent by June 30.

If they failed to do so, they would have to pay the entire heavy amount without any concession, they warned.

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