AP CM hails decision to hike loan waiver

Hyderabad, May 23 (UNI) Andhra Pradesh Chief Minister YS Rajasekahra Reddy today thanked Prime Minister Manmohan Singh and Union Finance Minister P Chidambaram for increasing the loan waiver for farmers by 20 per cent, according to an official release.

The Finance Minister had announced that the loan waiver for farmers would be increased by 20 per cent to a total of Rs 71,680 crore from Rs 60,000 crore this morning.

The release said, the Chief Minister telephoned Mr Chidambaram and thanked him for the Centre's decision to hike the loan waiver and the decision on one time settlement.

Dr Reddy said around 78 lakh farmers would be benefitted by the loan waiver scheme.

Andhra Pradesh would benifit most from the decision, the release added.

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