The Hindu : Andhra Pradesh News : Credit package extended

Online edition of India's National Newspaper
Sunday, May 16, 2004

Andhra Pradesh

Andhra Pradesh

Credit package extended

By Our Special Correspondent

HYDERABAD, MAY 15. The Chief Minister, Y. S. Rajasekhara Reddy, after a review of drought situation in the State here this evening, announced extension till June 30 of the credit package for farmers under implementation till recently. The package lapsed on March 31 after benefiting farmers to the tune of Rs 243 crores.

By the fresh extension, the farmers stand to gain about Rs 108 crores.

The package provided for interest waiver on short-term crop loans of kharif-2002 and on instalments of medium-term and long-term loans pertaining to 2002-03, both in drought-affected areas subject to the condition that the farmers paid the principal amount. It also allowed waiver up to 3 per cent on interest relating to short-term and long-term outstanding loans applicable to all areas of the State.

According to a press note issued later by the Chief Minister's office, Dr Reddy issued instructions for allowing a 5 per cent interest rebate on short-term crop loans of kharif 2002 and current medium-term and long-term loans of 2002-03 in case of all non-drought areas. The farmers could claim this benefit if they had cleared the principal and interest amounts.

The Chief Minister asked the farmers to claim full benefit out of the measure and asked the officials to create necessary awareness among them.

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