Chief Minister N. Chandrababu Naidu on Friday said that 20 per cent payment for farm loans under the waiver scheme would be made to the banks on October 22 as a result of which the farmers’ commitment to the banks would be removed for all practical purposes.
He said these crop loans would be eventually rescheduled even as the Farmers’ Empowerment Corporation (FEC) would be formed in January to facilitate the clearance of the remaining part of the loans in a phased manner. Farmers could get 10 per cent interest or cash from the FEC depending on their decision. Every year, 20 per cent payment would be made by the government to fulfil its commitment, he added.
Mr. Naidu was addressing a public meeting at Kovur Polytechnic College grounds here. Minister for Municipal Administration and Urban Development P. Narayana, TDP district president Beeda Ravichandra, Capital Committee member Beeda Mastan Rao, District Collector N. Srikanth, Joint Collector G. Rekharani and others were present.
Mr. Naidu spoke on a range of issues especially loan waiver and poverty alleviation programmes such as empowerment of DWCRA women through sand mining. “We will extend support to the SHG women. I will make sure that they set up hotels and start industries,” he added.
As Mr. Naidu’s arrival was nearly an hour behind schedule, the gram sabha at Pothireddypalem near Kovur was cancelled and the benefits to pensioners and others were distributed at the Kovur public meeting venue.
