AP govt to waive Farm Loans by 2018

farmer-suicideAndhra Pradesh government to waive the farm loans in a phased manner in next 3 years.

AP finance minister Ramakrishnudu said, Loans worth 25 k would be waived by 2018. As of now Rs.7,600 crore loans had been waived. In the second phase loans worth Rs.4,300 crore will be waived by Jan 10, 2016.

Meanwhile the banks have started auctioning the gold ornament on which farmer have taken loans. Agricultural PS Vijayakumar has requested the  banks to to stop auctioning the gold ornaments .

On the other side , Telangana TDP is demanding the ruling TRS  government to waive farm loans in single installment.