Hyderabad, Mar 1 (UNI) Close on the heels of waiver of Rs 60,000 crore worth farmer loans in the Union budget, Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today announced that his government would extend 'pavala vaddi' (3 per cent interest) loan scheme to farmers from next year in the state.
Addressing farmers at his camp office, Dr Reddy said his government was providing loans to the farmers at 5 per cent interest since the Congress came to power in the state vis-a-vis 7 per cent by the Centre.
The 'pavala vaddi' scheme would benefit farmers to develop their agriculture activities, he added.
Stating that about 60 lakh farmers, out of 1.5 crore, would be benefitted with the Centre's decision of waiver of farmers' loans in the state, he said the Centre and the state government were committed to provide more facilities to the farmers, making agriculture a profitable business.
Both the governments want to see a smile on every farmer's face and wipe the tears off their eyes, Dr Reddy added.
Alleging that the previous Telugu Desam Party (TDP) neglected the plight of the peasants during its nine-year regime by not solving their problems, the Chief Minister said the Centre was also taking steps to provide Rs 1000 as Minimum Support Price (MSP) for Paddy per quintal in the next season.
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