The prestigious Loan Waiver scheme of the TDP government will be completed in the next 3 months. The committee appointed to find out ways to get funds for the scheme had informed CM Chandra Babu that so far various financial firms have come forward to give 19000 Crore as help. The committee has estimated to get 2500 Crores from the Red Sandal auction and another 20000 Crore by making the income of AP Beverages Corporation as an escrow account.
Government had asked the banks to submit the beneficiaries list by 15th of this month. Government will decide the final list of beneficiaries by 20th after the verification and is ready to release 10000 Crore to banks as first installment. The second and third installment will be done in October and November.
Loan Waiver to farmers and women self help groups 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. He announced to waive off loans up to 1.5 Lakhs per family which will make 97.6% families in the state debt-less.
