The Hindu : Andhra Pradesh / Hyderabad News : Naidu wants all loans waived

Online edition of India's National Newspaper
Sunday, Mar 02, 2008
ePaper | Mobile/PDA Version

Andhra Pradesh

Andhra Pradesh - Hyderabad

Naidu wants all loans waived

HYDERABAD: Describing the budget presented by Union Finance Minister P. Chidambaram as “anti-farmer” and anti-poor”, TDP president N. Chandrababu Naidu has demanded that the Centre announce complete waiver of loans obtained by all farmers from banks.

The relief announced by the Centre was aimed at benefiting defaulters and it is not helpful to genuine farmers who made prompt repayment of loans. Asserting that it was the pressure mounted by the United National Progressive Alliance that forced the Centre to announce the measure, he said the alliance would continue its struggle till a “logical conclusion” is reached on the issues pertaining to farmers.

Addressing a press conference here on Saturday, Mr. Naidu wondered how Chief Minister Y.S. Rajasekhara Reddy, who opposed loan waiver and favoured subsidy of Rs. 5,000 instead, took a “U-turn” and was indulging in “artificial” celebrations.

Criticising the Government for slashing allocations to health, education and welfare sectors, he said though the economy had improved significantly from Rs. 2.5 lakh crore to Rs. 6 lakh crore, the Government assured spending only Rs. 50,000 crore on loan waiver. Even this was included as an “after thought” and the Government should waive all the loans including those obtained from private agencies.

Replying to queries, Mr. Naidu defended the reforms launched during his tenure as Chief Minister claiming the present Government was taking the benefit of the foundation laid by him. It was the TDP Government’s endeavour that made Golden Quadrilateral, Greenfield International Airport at Hyderabad, ports and other projects a reality, thus contributing to the economic growth.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh