The farm loan waiver promise of AP Chief Minister Chandrababu Naidu and Telangana Chief Minister KCR is all set to haunt them and also the farmer community. Even during the time of commitment, many analysts ruled it as impractical and eyewash strategy.
Sources say that the Reserve Bank of India has formally conveyed to the Government of Telangana that it cannot agree for any rescheduling of farm loans and asked the government not to trouble banks anymore.
With pressure growing, KCR sent Chief secretary Rajiv Sharma and other senior officials to discuss this with RBI, which reportedly told them very clearly that the state government can even lend money directly to farmers to clear their loans.
Though such a formal reply is yet to be given to AP, analysts say that this will also be on similar lines. With farmers unable to repay old loan, not fit to get new loans from bank and the poll promise becoming a tough nut to crack, Babu and KCR will no doubt face tough days ahead!
