KCR to waive Rs 12,000 cr worth crop loans
Telangana Chief Minister K Chandrasekhar Rao today announced that farm loans availed in the 2013-14 financial year, up to Rs 1 lakh will be waived for the benefit of small farmers.
He made this announcement at a public meeting in Gajwel, his assembly constituency in Medak district as part of the three-day Telangana formation celebrations.
KCR won the Gajwel Assembly seat with over 20,000 votes and was in district today as part of thanks giving to people .
Earlier in the day, KCR held a meeting with the Telangana lead banks, the State Bank of Hyderabad(SBH) and other banks in the state at the secretariat to deliberate on the crucial issue of loan waiver.
In the meeting, the bankers had indicated that the total loan waiver scheme involved Rs 46,000 crore.
As per the TRS poll promise of waiver of only Rs One lakh farm loans, the burden was said to be around Rs 22,000 crore, the bankers said.
After a marathon two-hours State-Level Bankers Committee (SLBC) meeting, in which state Finance Minister Etela Rajinder and Agriculture Minister Pocharam Srinivas Reddy participated, Chandrasekhar Rao announced waiver of crop loans only for one year -2013-14, worth Rs 12000 crore to benefit 23 lakh farmers in Telangana.
During his public meeting at Gajwel, the Chief Minister said that soon Telangana will have 24 districts in the place of existing ten districts to provide better administration and stable governance.
He promised to one super-speciality hospital in each one of the 24 district headquarters.
Governor E S L Narasimhan has recently approved the expenditure fund of Andhra Pradesh and Telangana with a budget of Rs 34,595 crore and Rs 26,516 crore respectively for a period of four months from June 2.
The division of budget was based on the vote-on-account budget approved by the Assembly of the united state in March this year.
The new governments will have to table full-scale budgets for the remaining period from October to March after assuming charge.
Both the government have already sought a two-year exemption from implementing the Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) in both Telangana and Andhra Pradesh.
(Posted on 05-06-2014)