According to conservative estimates, it could burden the exchequer by close to Rs. 47,000 crore
Even as euphoria over the party’s emphatic victory in the just concluded general elections in Seemandhra refuses to settle down, the Telugu Desam Party is faced with the Herculean task of fulfilling its promise of loan waiver to farmers and self-help group women.
The two promises which propelled the party to power after a decade-long gap are set to impose huge costs on the exchequer of the new State as and when they are implemented.
Farmers look forward to crop loan waiver by new Chandrababu Naidu government-Times Of India
GUNTUR: After voting for Chandrababu Naidu in large numbers, farmers in Andhra Pradesh are eagerly waiting for the new chief minister to keep his promise of a crop loan waiver, a major poll sop promised during the TDP’s campaign across the region.
The crop loan waiver is a risky promise, particularly in the wake of bifurcation of the state and especially at a time when Andhra Pradesh has a deficit revenue of nearly Rs 15,000 crore.
Experts say the crop loan waiver in AP alone might require up to Rs 70,000 crore and with the state budget expected to be deficit, Naidu might seek funding from the Centre to implement the scheme.