AP Govt to introduce loans with 25 ps interest to farmers

Hyderabad, Oct 7 (UNI) In an effort to achieve targetted growth rate in agriculture sector and increase the production of food grains in Andhra Pradesh, the State Government is planning to introduce new scheme of loans to the farmers at 25 paise interest rate.

According to an official release here, Chief Minister Y S Rajasekhara Reddy claimed that the Government would provide bank loans to the farmers at 25 paise interest, similar to that implemented for SHGs since the Congress came to power inthe State.

''The Government will seek Centre's help to implement the scheme and if its not ready, we would provide sufficient funds in the State Budget,'' Dr Reddy added.

Stating that the Congress Government would introduce 'one kg rice at Rs two' scheme for BPL families, he said, the State Government was ready to bear the additional burden.

The Government had to allocate Rs 1,000 crore additionally to supply rice at Rs two per kg per year, he added.

Alleging that the opposition TDP deceived the people by not implementing the welfare schemes during its nine year regime, Dr Reddy said his Government was committed to implement welfare schemes for the poor.

UNI