The announcement by Andhra Pradesh government yesterday regarding loan waiver schemes is considered one of the biggest in India by any state government till now which is expected to cost the exchequer over Rs 43,000 crore. Farm and gold loans taken by farmers for Rs 35,000 crore is all set to be waived with immediate effect followed by Rs 7,500 crore loans availed by self-help group (SHGs) members and Rs 500 crore take by weavers and families from scheduled castes. AP chief minister CBN reportedly said that those who had cleared their loans would also be benefited as the state would be depositing Rs 1.5 lakh in their accounts by cash transfer. He said all the waivers would be costing the government over Rs 43,000 crore but it can benefit 96.27 per cent of the total farmers. Naidu who was always criticized by his rivals that he never adheres to his poll promise, has now decided to raise loans from banks with future revenues as guarantees for public sector undertakings. Naidu may have a gained huge credibility by making a firm announcement.  

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