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Did We Err By Waiving Farm Loans? AP Govt Ponders

According to a story in a leading newspaper, it is said that the Andhra Pradesh government which was voted to power solely because of its promise to waiver farm and DWACRA loans is now regretting giving money from its exchequer to waive loans.

Well, recently, the AP government had announced that it did not have money to pay to its employees. But now, it has decided to stop all payments to various projects and schemes it has in the pipeline to ensure that the employees are paid their monthly salaries. Apparently, orders have been issued to stop all the pending bills to curtail expenditure.

Right now, the plan is to stop expenditure of various departments and pool in the Rs 1200 crores they have along with the Rs 1000 crores they have secured by auctioning the security bonds and using Rs 200 crores to pay the government employees and pensioners.

The newspaper story clearly states that the Andhra Pradesh government now feels that it was a mistake to start Rythu Swadhikaraka Samstha or Farmers’ Empowerment Corporation and divert Rs 5000 crores to waiver farm loans.

Given this background, the story says the government has now set aside loans waivers of DWACRA groups and nursery owners.

Instructions have also been given to stop the money to fund industries in the state, it says. However, irrespective of what the newspaper has to say, it is pretty obvious that AP government’s behaviour is anything but rational.

On one hand, it is boasting of grand plans and on the other, it is crying hoarse that it is facing severe financial crisis. And now, it says it regrets its decision to waiver farm loans.

But what’s more surprising is the fact that this story has appeared in a newspaper that is considered as a virtual mouthpiece of Andhra Pradesh ruling party.

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Tags: Andhra Pradesh DWACRA Farm Loan