HYDERABAD: The State Government has decided to waive loans availed by weavers and their societies ever since the Congress came to power four and a half years ago. Chief Minister Y.S. Rajasekhara Reddy, who made this announcement here on Monday, said that the government would make a provision of an estimated Rs. 336 crore in the budget to be introduced in February. The waiver would include the dues on credit cards as well as the loans obtained by weavers under the Prime Minister’s Rozgar Yojana (PMRY).
These decisions come in the wake of a rash of suicides committed by powerloom as well as handloom weavers in the State, particularly in Karimnagar district, due to unemployment and mounting debts. Dr. Reddy was addressing a meeting of weavers from Nalgonda district who came in good numbers to represent their problems here on Monday. Finance Minister K. Rosaiah and others also spoke.