Chouhan asks PM to issue loan waiver guidelines

May 1st, 2008 - 12:58 am ICT by admin  

A file-photo of Manmohan Singh

Bhopal, April 30 (IANS) Madhya Pradesh Chief Minister Shivraj Singh Chouhan Wednesday urged Prime Minister Manmohan Singh to issue detailed guidelines for the Rs.600 billion farm loan waiver package announced in the budget. Expressing concern at the delay in the issue of detailed guidelines, Chouhan said in a letter to the prime minister that while millions of farmers had received the news of the loan waiver with renewed hope and expectations, the long gap in the follow-up action had become a cause for worry and doubt.

He said that cooperative financial institutions, which form the backbone of the rural farm credit system, have had to contend with an almost complete stoppage of recoveries of old loans since the waiver announcement. In the absence of clear guidelines, no concrete plans for disbursement of loans for the Kharif season can be drawn up, he added.

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