The Kotayya committee formed to study in to possibilities of Loan Waiver has explained its findings to Andhra Pradesh Chief Minister Chandra Babu Naidu on Sunday. According to the available information, the committee had suggested to waive one loan if a farmer has multiple loans. It is confidentially known that government wants to waive off One and half Lakh to each farmer. This will cost 30000 Crore to the state.
Government is thinking on the lines of returning amount to bank through money earned from selling seized red sandal and other loans. For the rest of the amount, the state will request RBI and Central government to allow it to return in installments. If they do not agree, Government will waive off half the amount (75000) to farmers and rest of the 75000 will be borne by farmers. They will issue bonds for the 75000 paid by the farmer. These bonds can be cashed by farmers periodically. Government will also pay simple interest to farmers on this bonds. Government is thinking on the lines to impose limit for DWACRA loans too.
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