The Hindu Businessline - Hyderabad, Oct. 2:
The Andhra Pradesh Chief Minister, Mr N. Kiran Kumar Reddy, today announced that farmers would get a loan of up to one lakh without any interest for their requirements from the beginning of the rabi season later this year.
About 95 lakh farmers are expected to benefit from the new ‘zero-interest' scheme which the Chief Minister announced coinciding with the 142 {+n} {+d} birth anniversary of Mahatma Gandhi during his tour of Yeraguntapalem village, according to a statement from the Chief Minister's Office.
According to estimates, about 95 per cent of the farming community in the State secure a loan of up to Rs 1 lakh and then take up farming.
The rest of the five per cent borrow more than Rs 1 lakh. All farmers, including tenant farmers, are eligible for loans under this new scheme. This zero interest loan is being considered for the first time ever by any State in the country, the statement claimed.
This would require about Rs 650-700 crore which the State Government would deposit into banks. However, the details of the scheme and how its works has not been provided by the Government.
Irrigation
In yet another important development, the State Chief Minister announced a Rs 1,800 crore Indira Jalaprabha scheme at Bangalapalli village in Prakasham district in the presence of the Union Minister for Health, Mr Ghulam Nabi Azad.
Land scheme
The new scheme proposes to bring 10 lakh acres of land belonging to Scheduled Castes and Schedules Tribes under cultivation over the next three years.
The focus of the scheme is to help bring poor people belonging to the SC and ST community come out of the poverty line.
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