Loan waiver to bail out farmers, Naidu tells Rajan

Officials and bankers asked not to serve notices on farmers

June 19, 2014 03:33 pm | Updated November 16, 2021 08:05 pm IST - HYDERABAD:

Andhra Pradesh Chief Minister N. Chandrababu Naidu spoke to Reserve Bank of India Governor, Raghuram Rajan, on Wednesday and explained to him the circumstances under which the State Government decided to waive crop loans.

Later in the day Mr. Naidu reportedly followed it up with a letter. He is believed to have told Mr. Rajan that the decision was aimed at bringing farmers from out of woods as farming sector was in deep crisis during the last decade. Farmers were adversely affected by vagaries of nature, increase in prices of various inputs like seeds and fertilizer. The Government cannot shirk its responsibility of rescuing the farmers when they were in crisis. If Government fails to intervene, farmers would lose confidence and this would ultimately reflect on food production, he added. Sources in the Chief Minister’s Office said Mr. Naidu impressed upon the RBI Governor to extend his cooperation to AP Government in ameliorating the lot of the farmers.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.