The Hindu : Andhra Pradesh / Hyderabad News : Loans taken by fishermen to be waived

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Friday, Mar 21, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Loans taken by fishermen to be waived

HYDERABAD: In yet another concession, Chief Minister Y.S. Rajasekhara Reddy on Wednesday decided to waive the loans taken by fishermen since 1982, on the lines of a similar benefit extended to SCs, STs, BCs, minorities and the disabled.

At a meeting held on fishermen’s issues, Dr. Reddy also decided to increase the insurance amount to all fishermen from Rs. 50,000 to Rs. 2 lakh. He said 10 per cent (Rs. 20,000) of the amount would be paid immediately and the rest a year later after verification by a committee and signing of an indemnity bond. “This will prevent misuse of the scheme,” he said.

According to a press release from the Chief Minister’s Office, he also agreed to settle all pending cases and pay the insured amount in 214 such cases at the rate of Rs. 50,000.

Animal Husbandry Minister Mandali Buddha Prasad and Ports Minister M. Venkata Ramana Rao, Special Chief Secretary, animal husbandry and fisheries Priyadarshi Dash attended the meeting.

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