Loans under Rs 25,000 to be waived off by March-end: Harish Rao

Finance Minister Harish Rao said that the loans below Rs 25,000 will be waived off by the end of his month and the cheques will be distributed by the MLAs.

Around 5.85 lakh eligible farmers will be given cheques and the remaining loan will be waived off in four phases, said the minister. "Several cases related to VAT have been pending in the court. One-time settlement of those cases can grant funds," said Rao.

He also said that Rs 50 crore needed for the development of Hyderabad. However, no response from the centre when the government asked to release the funds. The government then decided to allocate funds for city development.

Although there is an economic slowdown, the state government has not compromised in allocating funds to all the sectors. From the welfare schemes to the developmental activities, the government allocated funds of its own.