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Telangana state government to sell lands for Loan Waiver
Telangana State Government to Sell Lands For Loan Waiver. The promises of loan waiver made by both Chandrababu Naidu and KCR have become the clutching issues and have been bothering either government over a period of time.
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The promises of loan waiver made by both Chandrababu Naidu and KCR have become the clutching issues and have been bothering either government over a period of time. It’s not only the Andhra Pradesh state with a deficit budget, but also the Telangana government with surplus budget that have been entrapped in the issue. As on date, the Reserve Bank of India has not yet given an official nod for the rescheduling of agriculture term loans during 2013-14. This will only give a relief of 5000 Cr in the total Rs. 17,337 crore credit. Besides, there are also gold loans worth another Rs. 1,800 crore loans.
In a nutshell, Telangana state will have to bear the burden of loan waiver to the extent of over Rs. 14,000Cr (Rs. 12,337 crore for unpaid crop, agriculture term loans and Rs. 1,800 crore for gold loans) during the current financial year. So far, only 337mandals of Telangana are only covered under the scheme and Telangana Government has requested RBI also to consider the loan rescheduling in the remaining 77mandals.
KCR’s government is thinking on the lines of auctioning few the Government lands which are liable to encroachments to get money for the loan waiver. Government is also planning to improve the income from VAT collection through various sources.
