Rs 5,000 crore to waiver fund today

Hyderabad: As the first step towards waiving of the promised  farm loans, the Andhra Pradesh government will release Rs 5,000 crore to the agriculture department. The orders will be issued in this regard on Saturday.  

This amount, in turn, will be released by the agriculture department to the Farmers’ Empowerment Corporation on october 23, a day after the corporation is launched.

The Corporation will start with Rs 1 crore as the capital amount. This Corporation will pay 20% of the total farm loans to the banks. The Corporation has been registered with four directors.