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On Farm Loan Redemption, Govt Spend Rs. 14,000 Cr.

Vijaywada: Chief Minister N Chandrababu Naidu has asserted that his government is implementing the crop loan redemption scheme to inculcate confidence among the distressed farmers and prevent them from taking the extreme step, even as Vice-President M Venkaiah Naidu made his observation clear that schemes like crop loan waiver will not give the desired results and will not help the farming community come out of their problems.

The Chief Minister said that, to bring international technologies in the agriculture sector to the State, he would visit the US soon.

Stating that foundation stone for the Mega Seed Park in Kurnool district was laid on October 9. US-based Iowa University will extend technical support to the seed park, said Naidu. Apart from Iowa University, Bill and Melinda Gates Foundation, Japan and Korea are also coming forward for sharing technology.

While addressing officials and public representatives through teleconference, he discussed about the distribution of crop loan redemption certificates to farmers.

To a tune of Rs 24,000 crore despite non-cooperation from the Reserve Bank of India, stating that the government is implementing the debt redemption scheme for farmers. He informed that, it had already spent Rs 14,000 crore on three phases of debt redemption scheme, which will be completed in two more phases.


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