The Andhra Pradesh government, which is awaiting the Reserve Bank of India’s clearance for rescheduling crop loans, is prepared to implement loan waiver on its own, said Agriculture Minister P.Pullarao.
“ We however expect the re-scheduling of crop loans to happen, ” he said.
Speaking to media persons here on Wednesday, he said they directed the farmers who were in a position to repay the bank loans to do so and avail fresh loans for Kharif as Government would reimburse crop loans upto Rs.1.5 lakh under the loan waiver scheme.
As the kharif season has already commenced, in several districts banks started sanctioning kharif loans to those who repaid old loans.
The resource mobilisation committee, to be finalised soon, is looking at various means to mobilise resources, including imposing agriculture welfare cess as part of VAT. The funds meant for loan repayment would be deposited in escrow account. In about two to three months, the Rs. 45,000 crore required for loan repayment would be mobilised, he said.
