The Hindu Business Line : AP plans low interest loans for farmers

Hyderabad May 27 The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, has said the State Government was contemplating to give loans at `pavala vaddi' (or three per cent rate) to the farmers on par with the self-help groups.

"This will help the farming community to increase production and productivity," he said.

Addressing a review meeting ahead of the 29th National Development Council (NDC) meeting scheduled for May 29 in New Delhi, he felt that the pavala vaddi scheme for SHGs had been successful. "Financial assistance at a low interest rate helped the women self-help groups attract global attention. Farmers too need financial assistance on par with the SHGS," he said.

The State had decided to give loans to the tune of Rs 7,000 crore under the scheme to SHGs during 2007-08 as against Rs 3,418 crore in 2006-07 and Rs 2,100 crore in 2005-06, a Government press release said.

No power tariff hike

The Chief Minister, who is also scheduled to attend a Chief Ministers' meeting on the power sector in the National Capital, would ask the Union Government to allot surplus power to the power-starved States.

Addressing another review meeting held here on Sunday on the issues that could be highlighted at the conclave on power on Monday, the Chief Minister said the Government intended no hike in power tariff for another five years.

More Stories on : Farm credit | Andhra Pradesh

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