CM KCR Telangana plan for loan waiver

The Loan Waiver promise will not only be a burden for Andhra Pradesh government, it will also take its toll on Telangana government. Recently RBI has allowed loan rescheduling only in 100 mandals of three districts in Telangana which means government will have to pool in the rest of the money to carry out the loan waiver. The promise will cost 19000 Crores to Telangana government and the loan rescheduling will provide respite up to 4000 Crores.

The government is planning to acquire funds for remaining 15000 crores by auctioning some of the unused lands in the state. It is said that the 24 acre of prime land belonging to DBR Mills at Lower Tank Bund will be the first to go for the auction and will help the government raise Rs 1,000 crore from its sale. The officials reportedly identified more than 1000 acres of land which have potential to pool in more than 10000 Crores which will be used for the waiving of farmer loans up to One Lakh per family.