Chief Minister K Chandrashekar Rao on Friday announced that the State Government had decided to waive off the bank / SFC / cooperative bank loans of Rs 565.06 lakhs given to powerloom weavers, restricting the waiver to Rs 1 lakh per head.
Replying to a question raised by MLAs Chinta Prabhakar and S Ramalinga Reddy during the Question Hour in the State Legislative Assembly, the Chief Minister said that as many as 1,325 workers would benefit from the scheme.
An amount of Rs 565.06 lakhs will be the financial burden on the State exchequer on the said loan waiver, he said. (INN)