TDP miserably failed in implementing 'zero' interest loan policy for farmers: YS Jagan Mohan Reddy

Chief Minister YS Jagan Mohan Reddy on Friday hit out at Telugu Desan Party (TDP) for not implementing 'zero' interest loan policy for the farmers. In the Legislative Assembly, Leader of the House Reddy with the aid of a power point presentation placed data before the House to establish how the TDP had watered down the zero interest agriculture loan issue.The presentation showed that of Rs 11,595 crore, the former TDP government had to pay as its share to the bank for zero-interest loans, but it paid just Rs 630 crore, which accounts for just five per cent. In the case of the Development of Women and Children in Rural Areas (DWCRA) groups, it was not at all paid."Though 95 per cent of the farmers did not get the benefits, TDP has been resorting to false claims on the issue and is propagating that the zero interest loan scheme was a continuous process and there is nothing new in this scheme," he said.

The facts and figures showed that the "TDP has failed miserably in implementing the scheme".The opposition members had pressed for an adjournment motion to take up the zero interest rate on farm loan issue for discussion, which according to them was inconclusive and tried to stall the Question Hour.Members from the treasury benches, however, hit back stating that the meager amount paid by the TDP during its term cannot be treated as credible per cent. They likened the 5 per cent allocation as a "loincloth instead of a full-length dress"."Naidu had earlier read out the data from the State Level Banking Conference and had also shown the Economic Survey books but could not establish his claim of paying zero per cent loans and how they were left untouched," Reddy said. There was a commotion in the House when members from the opposition benches tried to interrupt the Chief Minister. Later, the Speaker adjourned the House.

( With inputs from ANI )