Writes to Prime Minister urging him to bring them under new package
Hyderabad, October 28, 2006The Chief Minister, Dr. YS Rajasekhara Reddy addressed a letter to the Prime Minister, Man Mohan Singh on Saturday seeking waiver of interest that accrued on farm loans as on March 31, 2004. He urged him to bring these old loans too under the Rs.9600 crore special package announced by the centre recently.
According to the package, the waiver of interest on farm loans will be applicable to the loans till January 30, 2006. If the Prime Minister concedes the plea, farmers will stand to benefit to the tune of Rs.1662 crores, the accumulated interest over the old loans as on March 31, 2004. The burden on farmers on account of the old loans was heavier but the waiver was denied on these loans on technical grounds. The Chief Minister had said that NABARD had clarified that interest would be counted on the old loans for the postponed period. Speaking to media, the Chief Minister said that the waiver would not help farmers unless the old loans were also covered.
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