Chandrababu loan waiver policy remains a puzzle

Hyderabad: Andhra Pradesh CM Chandrababu Naidu on Thursday said loan waiver would begin from December 10.

Chandrababu, who made a policy statement on crop loan waiver on Thursday, said loans less than Rs 50000 would be completely waived. The list of beneficiaries will be made available on the Internet from December 6. He also added he will set up a grievance cell and a call centre to receive objections from the farmers if any.

While addressing a press meet in Hyderabad Babu announced first phase of loan waiver. About 22, 79000 families will benefited through first phase, he said. "We will wave off our loans according our own concept," he added. "In the second phase, we will issue govt certified bonds to banks to  wave off loans with a interest of 10% in four sub phases," he said.

About one and a half lakh ceiling was decided for each and every family. Loans which were sanctioned between 01-04-2007 to 31-12-2013 will be waived off but scale of finance will not be available foe these loans, Babu said.

Aadhaar card and ration card are mandatory for loan waiver scheme. If farmer who fails to produce ration card, his information will be collected through Janma Bhoomi committees. If both  land owner and tenant farmer were sanctioned loans, tenant farmer will be preferred over the owner, Babu announced.