YS Jagan 208 SLBC Meeting Highlights  

Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy held a meeting with bank officers in which he made clear that the government is constantly paying farmers and DWCRA communities at zero interest. YS Jagan said that the AP government will take up all steps required to keep up promises which they gave to the people of AP before the elections.

The 208th State Level Bankers Committee (SLBC) was chaired by CM YS Jagan on Wednesday and Finance Minister Buggana Rajendranath, Agriculture Minister Kurasala Kannababu other dignitaries attended the meeting. YS Jagan spoke over several key issues in this meeting and had a long discussion with bankers. He requested bankers to extend their support and cooperation to Andhra Pradesh government schemes that are already in place.

Speaking at the meeting CM YS Jagan said, “Our government is taking steps to maintain its credibility. The credibility of the government and bankers are interrelated and we can achieve progress only with mutual cooperation. The government is implementing a number of schemes to serve and benefit the different classes of people. The government gives cash to many people under different schemes. This money should go directly to the beneficiaries. From time to time, the government pays farmers and DWCRA associations interest-free loans. We are ready to do what the bankers want in this regard. Keep in touch with our finance department. We will pay back the amount of money owed under interest-free loans"

AP CM says that the village volunteers will go to each house and pay the people under zero interest and hand over a receipt to them. YS Jagan advised bankers to provide a list of people who are getting loans under zero interest, and the AP government will pay them directly. He advised bankers to focus on broadening the distribution of loans to the Mudra scheme beneficiaries. AP Government will give identity cards to all the small scale businesses and shops. YS Jagan Stresses out the need for encouragement to small scale industries and shop holders.

AP Government implements a scheme every month to benefit all the people and it requires the cooperation of bankers. No matter where the problem is the government will come forward and take appropriate measures to address them. YS Jagan said that the YSRCP government is very proactive. He expressed his happiness as the Bank officials announced that the AP government is very close to the target amount of delivering loans to the farmers in Kharif season. He even said that bankers should be prepared to give loans to farmers for Rabi season crops, as the farmers are planning to start farming as there is adequate water in the reservoirs.

YS Jagan said that, "We are trying to correct systems and bring out revolutionary changes. Judicial preview and reverse tendering actions have yielded good results through which we have saved Rs.782 crores of public money." He further added that nobody in the country has carried out such revolutionary activities. There is no judicial preview and no reversing mechanism in any state. Any tender exceeding Rs 100 crore is being brought to the attention of the judge. Judicial preview is the best way to transparent procedures. No state has implemented reverse tendering.

YS Jagan Speaks about In the case of power purchase agreement PPAs and said that revolutionary policies have been taken to avoid corruption. When YSRCP came to power, we had a review meeting with the power authorities and they said that there are debts of over Rs.20,000 crores. YS Jagan further said that there were no payments for 13 months from the past TDP government led by former Chief Minister Nara Chandrababu Naidu. DISCOMs may not survive if they didn't have reviewed on higher-priced PPAs.

CM YS Jagan said that the entrepreneurs are backing down and saying that the current tariffs are too high in the state. It is not yet possible to increase the current tariffs offered by the industry. We are making efforts to rectify the situation in the power sector. CM YS Jagan asked the bankers to cooperate in the revival of the power sector.

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