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TS’ loan waiver opens up a can of worms
It seems that the Telangana State’s decision to waive farm loans has been haunting the government as it has brought its share of problems.
Loans taken on bogus lands delay implementation of scheme
Hyderabad: It seems that the Telangana State’s decision to waive farm loans has been haunting the government as it has brought its share of problems. While it is yet to come to terms with the Reserve Bank of India’s (RBI) unfavourable stand, a fresh problem has now surfaced in the form of loans taken by fraudulent means.
According to Agriculture Minister Pocharam Srinivas Reddy, who is heading the Cabinet Sub-Committee on loan waiver, several cases of loans taken with fake pattas had come to their notice. A few farmers availed loans for lands that were non-existent. Officials are trying to ascertain these irregularities and hence the delay in implementation of the scheme.
Pocharam headed sub-committee held discussions at the Secretariat on Thursday about the report to be submitted to Chief Minister. Later speaking to newsmen, he said that government would waive off loans to all eligible beneficiaries irrespective of the fresh expose.
Exuding confidence on the rescheduling of loans at the earliest, Pocharam pointed out that they would be meeting bankers once again this week.
“Despite the RBI not coming forward to bail out the State, we are hopeful that bankers would understand the precarious situation in Telangana and assist the government,” he added.
Pocharam stated that sub-committee would submit final report to Chief Minister before September 25. Meanwhile, the Agriculture Minister warned of strict action against those involved in making spurious seeds as well as agencies distributing them. Speaking at a private programme, he suggested seed companies and agriculture scientists to focus even on vegetable crop instead of restricting mainly to paddy.
