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Andhra Pradesh
‘Gold loan waiver will benefit ryots’
Staff Reporter
GUNTUR: Former Member of Parliament Yelamanchili Sivaji has expressed his gratitude to Prime Minister Manmohan Singh, Finance Minister P. Chidambaram and Agricultural Minister Sharad Pawar for taking a decision to include gold loans in the agricultural debt waiver scheme.
Mr.Sivaji said on Wednesday that the scheme would benefit farmers particularly in Andhra Pradesh and Tamil Nadu where mortgaging gold for securing loans has been a norm for many years. He also reminded the Government that it was he who mooted the proposal to include gold loans in the Agricultural Rural Debt Relief Scheme which was implemented in 1990 during the tenure of National Front government.
His proposal was accepted by the then Finance Minister Madhu Dandavate and incorporated in the scheme. The modalities for implementation of the scheme would be finalised at a meeting with bankers to be held on June 3, he added.
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