Tulasi Reddy criticises Rs 1 Lakh limit to zero-interest scheme

Kadapa: Pradesh Congress Committee (PCC) working president N Tulasi Reddy asked the government to increase the loan amount from Rs 1 lakh for zero-interest subsidy under YSR Zero-Interest Crop Loan Scheme.

Speaking to media at Vempalle on Tuesday, the Congress leader said that the scheme was benefiting to only 20 per cent of farmers in the state due to sealing of Rs 1 lakh loan. He said for example, out of around 5,000 farmers have obtained crop loan from State Bank of India Vempalle branch, 3,600 borrowed more that Rs 1 lakh, which means they were ineligible for the scheme.

Tulasi Reddy said the sealing of the scheme was against the YSRCP's election manifesto which promised to implement zero-interest loan scheme to all farmers without any restrictions.

He recalled that the scheme was already announced by Congress October 2, 2011 during N Kiran Kumar Reddy government.