Third crop loan waiver soon: Pocharam

In a major relief to the distressed farmers, the State government is planning to release third phase of funds towards the waiver of crop loans.

Agriculture Minister Pocharam Srinivas Reddy today said the TRS government will soon release Rs 4,250 crore towards crop loan waiver as promised. Releasing Annual Agriculture Plan for 2016-17 at Secretariat here on Wednesday, the minister clarified that the State government has decided to release Rs 4,250 crore towards third phase of crop loan waiver. The Government has so far released two phases of Rs 8,500 crore of crop loans out of Rs 17,000 crore, he said.

Stating that there was no dearth of seed and fertilizers at all villages and towns, Srinivas Reddy stated they are expecting 35 per cent of reduction in cotton sowing this season. “We have asked the banks to offer fresh loans to the farmers to take up agricultural activities”, he added. Since cotton exports are not encouraging as there is fall in prices globally, the Chief Minister K Chandrasekhar Rao has asked to go in for alternative crops of Soyabean, maize, red gram, green gram and black gram and other pulses which need less quantity of waters and investment.

Accordingly it was proposed to cover a total of 45.49 lakh hactare during Kharif such as Maize 6.14 lakh hectares, Soyabean 5.02 lakh hectares, Redgram 4.85 lakh hectares and other crops by reducing cotton area to 10.64 la hectares. (NSS)