Committee supports report on Loan Waiver!

The committee appointed by Andhra Pradesh government to study the possibilities of Loan Waiver for farmers and women self help groups had submitted its report to Chief Minister Chandra Babu Naidu today. The committee estimated that Loan Waiver will cost the government 25000 Crores and loan waiver on gold loans will cost an additional 5000 Crores. Chandra Babu is discussing the report with Finance Minister Yanamala Rama Krishnudu and other available ministers.

Committee had suggested various alternatives like issuing bonds, reschedule of loans etc to the government to ease the burden on the state exchequer. Sources say that announcement on Loan Waiver may arrive today evening. It is known that Loan Waiver for farmers and women self help groups is one of the prime poll promises of Telugu Desam Party and now the party is under pressure to deliver it so as to improve its credibility in people.