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Kotaiah Committee to submit preliminary report on Loan Waiver on Sunday

June 22, 2014 - Hyderabad

Kotaiah Committee that was appointed by the Chief Minister Nara Chandrababu Naidu to formulate the modalities on loan waiver in Andhra Pradesh is to submit report on Sunday at noon.

Sources said that the committee has formulated three proposals viz., waiver of loans up to Rs.1 lakh, Rs.1.5 lakhs or Rs.1 lakh out of the total loan amount. As far as gold loans are concerned, the committee is said to have recommended for waiver of loans taken by women.

It may be recalled that the Chief Minister Nara Chandrababu Naidu has appointed a committee headed by NABARD former Chairman P Kotaiah and former IRDA Chairman C.S.Rao besides others to submit a preliminary report within 15 days and the final one within 30 days thereafter.

Kotaiah committee meets Chandrababu Naidu

The Finance Minister Yanamala Ramakrishnudu speaking to media on Sunday said that the Kotaiah committee members met the Chief Minister Nara Chandrababu Naidu and sought some more time for submission of the report. He said that the committee is yet to get some more information and added that they will be meeting the officials of RBI and Banks.

The Finance Minister said that they could not go back on the loan waiver scheme and the government has to implement though it is difficult. The Committee is suggested to go ahead with the formation of the scheme keeping the options available before it. He said that the committee is making all efforts to make the scheme in a viable manner. Ministers Patti Pulla Rao, Ravela Kishore Babu, Bojjala Gopalakrishna Reddy participated in the meeting along with the Finance Minister Yanamala Ramakrishnudu.

Andhra News

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