Loan Waiver 2nd installment despite Funds crunch!

Despite severe funds crunch, Andhra Pradesh government is keen to carry out the Loan waiver scheme promised. It is known that the government has committed to pay the loans above 50000 in five equal instalments. The first instalment is paid in the first phase and now the government is gearing up to allot funds for second phase in the upcoming budget.

We are said that the government is allotting 2000 Crore in this budget for the second phase. In the first phase they have allotted 5000 Crore as the government also did write off the loans below 50000 in a single go.

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.