Andhra Pradesh government is gearing up to implement the prestigious loan waiver scheme from 11th of this month. It is known that the government has already released the first list of the scheme beneficiaries and will be issuing bonds for the waiver from 11th. Chief Minister Chandrababu Naidu himself will launch the waiver by personally handing over the bonds to farmers in Chittoor district.
It is known that government has decided to waive off loans less than 50000 in a single installment and the loans greater than 50000 will be waived off in five equal installments over the next five years.
Loan Waiver to farmers 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. Government is relieving loans up to 1.5 Lakh per family as a part of this scheme.
