The Hindu : Andhra Pradesh News : Refinancing of ryots brooks no delay: TDP

Online edition of India's National Newspaper
Thursday, Jul 22, 2004

Andhra Pradesh

Andhra Pradesh

Refinancing of ryots brooks no delay: TDP

By Our Staff Reporter

HYDERABAD, JULY 21. The former Home Minister -- T. Devender Goud, and the former Minister for Power, K. Subbarayudu -- on Wednesday urged the National Bank for Agricultural and Rural Development (NABARD) to immediately sanction more refinancing to the State, as farmers had been reeling under drought for four consecutive years.

Speaking to presspersons, they said the "absolute lack of a responsible reaction from the Government was regrettable." Without sanction of fresh loans, they said, the moratorium would not serve its purpose.

The TDP leaders said out of an approximate requirement of Rs. 25,000 crores, only Rs. 10,000 crores would come from banks, and the rest from private sources. Mr. Goud pointed out that the Government had said it would attempt to make available Rs. 11,000 crores, out of which only Rs. 700 crores had been released so far, as the Government itself had admitted. He alleged that the Government was resorting to book adjustments and urged it to pressure NABARD for more refinance.

Mr. Goud and Mr. Subbarayudu said it was imperative that the Government issue orders to all District Collectors to discuss and formulate plans with bankers, and implement credit plans.

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