The Kotayya Committee formed to study and finalize the terms of Loan Waiver had submitted its final report to Chief Minister Chandra Babu Naidu a short while ago. According to the report, the committee has recommended a waiver of Rs 1.5 Lakhs if it is a crop loan and 50000 for Gold Loans. The committee has recommended selling of Red Sander reserves with the government and issue of bonds for accumulating money for the waiver.
The committee has also recommended to waive off one loan for one family. The government will consider the recommendations of the committee and announce the loan waiver procedure they will be carrying. Government will wait for the final loan rescheduling directives from RBI before deciding the procedure. It is said that Chandra Babu is keen to fulfill the promise despite of whatever may be the RBI’s decision since it is a prestigious issue to his government.
Loan Waiver to farmers is one of the prominent poll promises of Telugu Desam Party before the elections. The main opposition party, YSR Congress is eagerly waiting for Chandra Babu to go back on this promise so that they can hound the government on ground and create favourable scene for them in the people.
