Reserve Bank of India on Monday will be announcing the details of the Farmers Loans Reschedule. It is learnt that the apex bank has agreed for one year of Moratorium (Temporary suspension of loans) and three years of reschedule. However the government is pressing for at least 5 years of reschedule. Finance Ministry Chief Secretary Ajay Kallam was sent to Mumbai to talk with RBI officials.
Government is trying to convince the RBI that the deficit budget of Andhra Pradesh will need some time to sustain this burden and 5 years will be an apt timeline. On the other side, Chandra Babu Naidu reportedly is thinking on the lines of taking the loan reschedule budget on to the government and not let the farmers suffer.
It is known that Loan Waiver for farmers and women self help groups is one of the prime poll promises of Telugu Desam Party and now the party is under pressure to deliver it so as to improve its credibility in people. On the other side, Opposition parties are waiting for the government to fail and looking to hound them later on in this issue.
