5000 Crore allotted for AP’s Loan Waiver Second installment!

Despite severe funds crunch, Andhra Pradesh government had allocated 5000 Crore for the second installment of the Loan Waiver scheme. This allocation was made today in the Agriculture budget tabled by the government in the Assembly.

It is known that the government has committed to pay the loans above 50000 in five equal installments. The first installment is paid in the first phase and now the government is gearing up to disburse second installment too. The government had already written off those loans below 50000 in a single installment.

Loan Waiver for farmers is one of the flagship schemes of Telugu Desam Party in the last elections. After coming to power, there is tremendous pressure on Chandra Babu to deliver it even though the state is reeling under the pressure of bifurcation. Government had committed to relieve loans up to 1.5 Lakh per family as a part of this scheme.