Bonds useless to farmers
Bonds won’t enable farmers to avail fresh loans for rabi
By : DC Correspondent
Update: 2014-09-20 02:53 GMT
ADILABAD: The distressed farmers who are eagerly waiting for the crop loan waiver are up in arms against the state government’s move to issue ‘government bonds’ to them instead of waiving crop loans up to Rs 1 lakh in case banks do not agree to crop waiver as Reserve Bank of India is not in favour of the scheme.
Farmers are not happy over the development as the TRS had promised crop loan waiver in its election manifesto. The government would have to spend to Rs 1,501 crore to waive off the loans of 3.15 lakh farmers, who have been identified by the government as eligible for the scheme, in the district.
The farmers had incurred heavy losses due to drought conditions and fluctuations in the power supply during the Kharif season. Farmers had pinned hopes on crop loan wavier to avail fresh loans from banks, but they did not get fresh loans though Kharif season will come to an end soon.
With no other option in sight, the distressed farmers are forced to depend on middlemen and private money lenders. Farmers, now, hope that at least they will get fresh loans for Rabi if the state government implements the scheme immediately.
A farmer, Srinivas, of Kupti village in Neredigonda mandal, recalled that TRS president K. Chandrasekhar Rao promised to waive crop loans upto Rs 1 lakh if they came to power and found fault with the government's move to issue bonds instead of waiving loans.
He said issuing bonds would not serve the purpose as the banks will not give fresh loans for Rabi unless the farmers cleared the dues of the previous crop loan. The confusion and delay in implementing the crop loan waiver will only create unrest among the farmers who have already incurred huge loss due to drought and fluctuations in power supply.