CM launches phase 2 of Debt Redemption; 36.39 lakh farmers are estimated to benefit from this plan
As many as 36.39 lakh farmers will benefit with the second phase of the government’s Debt Redemption which was launched yesterday (23 June 2016) by Chief Minister N. Chandrababu Naidu.
The Chief Minister has distributed debt redemption certificates to farmers at 10 per cent interest to a tune of Rs 3,500 cr.
Going by the detailed break up, under the first phase, the government waived loans to the tune of Rs.7,565 cr for 54.98 lakh farmers. The government also released Rs 26.63 cr for the families of deceased farmers.
The state government is determined to waive off loans to farmers totaling Rs. 24,000 cr, for the welfare of the farmers.
In addition to these, loans to 2.23 lakh horticulture farmers to a tune of Rs 384.47 cr to develop horticulture in the state.