The State government has decided to waive loans to the tune of Rs. 327.04 crore to all weavers, including both individual weavers and the weavers' societies.
This was disclosed by Information and Broadcasting Minister J Geetha Reddy after the cabinet meeting held at the State Secretariat on Wednesday.
The cabinet, chaired by Chief Minister K Rosaiah took the decision to waive off the loans and the accruing interest for weavers, following the recommendations of a YSR-appointed sub-committee. The sub-committee's recommendation that the APCOB could be appointed as the nodal agency to take steps for arranging new credit limits to the weavers was also approved and directions were issued in that regard.
Geetha Reddy also revealed that a cabinet sub-committee had been constituted earlier to review the cooperative credit structure's functioning after implementing Vaidhyanathan's package and various debt waiver programmes. She added that the sub-committee would submit its report suggesting a road map making structural changes in the co-operative credit system.
The IB Minister added that the cabinet had decided to hold co-operative election later, once their functioning was set right. The co-operative societies elections have been postponed for 6 months to complete the reforms in the sector.
Geetha Reddy also informed that the government had decided to sanction 126 post metric hostels for accommodating 12,000 tribal students in 64 girls and 62 boys hostels with welfare attached. The expenditure would involve Rs. 6.18 crore per annum and a one-time expense of Rs. 44 lakh. She added that all the hostels would be provided free electricity and water supply.