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Economist presents Rs 4,000 cr 'farmer relief scheme' to CM

Written by: Staff
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Guntur, Andhra Pradesh, Sep 17 (UNI) Former Rajya Sabha member and Economist Y Shivaji today presented a Rs 4,000 crore scheme for the relief of the debt-ridden small and marginal farmers in Andhra Pradesh, often affected by drought and floods crippling the agriculture economy and leading to suicides by farmers.

Chief Minister Y S Rajasekhra Reddy to whom the scheme was presented has sent it to the Union Finance Ministry for examining the feasibility and the implications.

Addressing at a press conference here, Mr Sivaji, an alumnus of the reputed London School of Economics said the scheme would cost Rs 4,000 crore and could be shared equally by the Centre and state government.

The scheme envisages waiving of crop loans borrowed by small and marginal farmers from banks to the extent of Rs 25,000 crore. The waiver will make the farmers eligible to draw fresh loans for agricultural operations, he said.

The scheme would benefit about four lakh small and marginal farmers in the state.

Mr Shivaji said 4000 debt-ridden farmers had committed suicides since the last four years and attributed this to national calamities, increasing cost of production and absence of sound marketing mechanism.

UNI XR VR SBA RAI1847

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