Crop Loans likely to be rescheduled

AP state Agricultural Minister Prattipati Pulla Rao has declared that Reserve Bank of India has agreed to reschedule the crop loans after Chief Minister Chandrababu Naidu personally talked to RBI Governor Rajan by phone. He said an official announcement will be made within two days about rescheduling the crop loans. Therefore, he asserted that there will be no problem for getting new loans from banks.

It would be a great relief to farmers and TDP as well, if RBI agrees for rescheduling the loans. If the loans are rescheduled for a couple of years, Chandrababu may not find to clear their dues during reschedule period. In the meantime his government can generate revenue through different ways and can clear their dues.