Click to play videoHyderabad: After farmers, the Congress government in Andhra Pradesh has decided to dole out sops to Scheduled Castes, Scheduled Tribes and Backward Classes, announcing Rs 1,690-crore waiver for loans taken by 45 lakh people.
Says Andhra Pradesh Chief Minister, YS Rajasekhara Reddy, “We will waive loans taken up to Rs 1 lakh by SCs, STs, BCs, women and the handicapped from the respective state corporations."
The move comes barely a year before the state Assembly elections. But as to how he would fund the waivers, the Chief Minister says he has divine help.
“Well, God almighty will help the government. The economy is buoyant. Whatever we get, we want to pass it on to the weaker sections of the society,” he says.
But the Opposition Telugu Desam Party alleges the government is not distributing wealth equally.
“The rich are getting richer, the poor are getting poorer and the middle class is suffering. Inflation is at 5.5 per cent cement and steel prices are so high! Cost of living is extremely high,” says Opposition leader Chandrababu Naidu.
The Chief Minister has already subsidised pulses at Rs 35 a kilo and edible oil at Rs 60 a kilo for farmers who have repaid their loans.
Sources within the government say that loan repayments for the Indiramma Housing Scheme too - a housing scheme for the poor - will be waived.
If this happens, it will cost the state exchequer Rs 3,000 crore. Looks like the Almighty will have a lot more fund raising to do in the near future.
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