Loan Waiver Scheme is one of the prime poll promises of the Telugu Desam Party and due to the lack of the poor finances inherited by Andhra Pradesh after the state bifurcation, government is in all sorts of trouble to implement the promise. In the total of 80 Lakh loan accounts, the government has found 49.37 Lakh Loan Accounts perfectly correct for the loan waiver after weeding out bogus loans and implementing the 1.5 Lakhs per family rule.
However the beneficiaries have further increased after the scrutiny of the ineligible beneficiaries list. Now it is said that after taking people's objections and pleas, the list of beneficiaries have gone up to 63 Lakhs i.e., a whopping 14 Lakhs increase. The officials are planning to wrap up the entire exercise and handover the final list to Andhra Pradesh Farmers Empowerment Corporation which will take care of the loan waiver.
Initially, the Corporation would clear to the extent of 20% of farmers' loans to banks in this financial year and later in four annual installments. It is known that the government has already allocated 5000 Crore for the Corporation and it will be able to pool in funds three times than the amount from out side sources. Chief Minister Chandrababu Naidu will take up a 6 days tour to Japan from November 24th to 29th and he wants the first installment to be released before he goes to Japan.
