'Crop loan waiver in phased manner'

Telangana ministers Pocharam Srinivasa Reddy and Etela Rajendar said that the their government had taken a decision of waiving off crop loans of farmers in Telangana.

Speaking to reporters in Hyderabad on Monday,they said that Chief Minister K.Chandrasekhar Rao gave his nod for the proposals made by the cabinet sub-committee on the issue.

They said that they would pay Rs.4,250 crores for the crop loan waiver.

“We will waive off loans upto an amount of Rs.1 lakh in a phased manner. We will hold the discussions with the bankers on Tuesday about giving new loans to farmers. We are requesting Telangana people not to pay heed to misinformation being spread by the rivals,” said the ministers.

- Sakshipost