The State government has resumed implementation of the farm loan waiver scheme from Thursday.
A day after Chief Minister K. Chandrasekhar Rao has announced resumption of farm loan waiver, the government has taken steps to waive loans from ₹37,000 to ₹41,000.
Accordingly, the Finance department has released funds to the tune of ₹167.59 crore in this direction. This would benefit 44,870 farmers whose loans up to ₹41,000 would be waived. The government will still have a herculean task of releasing close to ₹20,000 crore for fulfilling its commitment of waiving loans secured by farmers up to ₹1 lakh each. Finance department officials are working overtime to mobilise resources required for the implementation of the assurance given in the run up to the 2018 elections.
The government, according to a release by the Chief Minister’s office, is expecting the outgo to be to the tune of ₹19,000 crore for waiving loans up to ₹1 lakh incurred by the farmers. Given the restrictions imposed by the Union Finance Ministry on the State”s borrowings and the revenue receipts for the first quarter not matching the expectations, it has to be seen how the government proposes to raise the huge quantum of funds required for fulfilling the assurance of loan waiver.
The government has been auctioning lands in prime places and advanced the schedule of auction of retail liquor outlets for generating revenue. But doubts still persist on whether these measures will be enough to cater to the requirements in the election year.
