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Andhra Pradesh
MLC seeks interest waiver to save farmers
Staff Reporter
Interest waiver demanded on outstanding loans
Interest amount stands at Rs. 40 crore
SANGAREDDY: The Member of Legislative Council R. Satyanarayana in a letter addressing the Chief Minister and released to the press here today, demanded waiver interest on loans availed by Medak farmers and a package similar to the one announced by the Prime Minister for Vidarbha.
Lost opportunities
The MLC said that the package provided interest waiver on outstanding loans as on June 30, 2004.
But the farmers of Medak district have lost the opportunity to get the benefits of the package due to reschedule of the loans by the District Cooperative Bank.
The MLC further informed that a total of Rs. 55.76 crore has been disbursed as short and long term loans to the farmers in the district up to June,2004.
The interest amount stood at Rs. 40 crore which should be waived to save the farmers in the district. Satyanarayana urged the Chief Minister to consider the number of farmer suicides in the district and instruct the concerned officials to waive the accumulated interest.
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