Kamareddy Farmers await govt’s loan rebate

​Kamareddy: Farmers in the district are still facing hardships as the State government has not released the promised Rs 243.60 crore of loan rebates on cooperative banks for the financial years, 2014-15 and 2015-16.

The State government passed the orders regarding this on March 31, 2016. Farmers avail short-term and long-term loans from the co-operative banks at an interest rate of 12.5 per cent. According to the GO, the government has to give rebates of six per cent on interest rates to the farmers who seek loans.

Farmers have to pay their loan amount with an interest rate of 12.5 per cent in two instalments which means that the farmers have to pay one instalment in August and the other instalment in February of that particular financial year.

Once the government releases the rebated amount, the respective banks will credit the amount into farmers’ accounts. But, the rebated amount for the past two years hasn’t reached the banks.

As many as 2,920 farmers have paid their instalments in the stipulated time for the financial year 2014-15. These farmers are to get Rs 4.09 crore from the government as rebate amount. Likewise 3,316 farmers should receive Rs 4.26 crore for 2015-16. The farmers hoping they would get the rebate amount have been clearing the dues by making debts.

Even for the financial year 2016-17, about 4,500 farmers paid instalments in time. They have to get Rs 5.5 crore from the government. According to the bank officials, Rs 160 crore dues are still pending. If the rebate amount is released, the farmers and the bankers will heave a sigh of relief.

Farmers made an appeal to the Minister for Agriculture and Cooperatives Pocharam Srinivas Reddy to come to their rescue immediately and mitigate their suffering.