The State Government of Andhra Pradesh constituted an Expert Committee under the Chairmanship of Sri. P. Kotaiah, former Chairman, NABARD vide G.O. , to examine in detail the implications and to suggest the modalities and methodology of implementing a “Debt Waiver” Scheme to certain category of borrowers. The Expert Committee has submitted their report to Govt., vide reference 2nd read above.
2. The Commissioner, Handlooms and Textiles, AP., Hyderabad, after examination of the recommendations of the Committee has furnished the Draft “Scheme for Waiver of Loans to Handloom and Powerloom Sector” in the State, duly obtaining the loan outstanding particulars ofweavers as on 31.03.2014, obtained from all banks for an amount of Rs.110.96 crores.
3. The Government, after careful examination, hereby approve the “Scheme for Waiver of Loans to Handloom and Powerloom Sector” in the State, so as to redeem the debt of Weavers, based on the recommendations of the Expert Committee headed by Sri P.Kotaiah and the reportof Commissioner of Handlooms and Textiles, A.P., Hyderabad to waive of the following loans with the financial implications of an amount of Rs.110.96 Crores (excluding APSFC loans) subject to fine tuning the guidelines for implementing the Scheme as detailed below :
(i) Weavers Credit Cards and individual Loans up to Rs.1,00,000/- (Rupees One Lakh only).
(ii) Weavers Group Loans; up to Rs.5,00,000/-( Rupees Five Lakhs only), subject to condition that within the weavers groups the eligibility for waiver of the loan outstanding per individual will be limited to Rs.1,00,000/- (Rupees One Lakh) only, and;
(iii) up to Rs.1,00,000/-( Rupees One Lakh only) loans to Powerloom units which have below 5 HP Power connection and availing 50% power subsidy scheme.
4. The Commissioner, Handlooms and Textiles, AP., Hyderabad shall take necessary action in the matter. He is also directed to furnish operational guidelines to implement the “Scheme for Waiver of Loans to Handloom and Powerloom Sector”, immediately.
5. This order issues with the concurrence of Finance Department vide their U.O.No.3933/FMU/-REV-IC/173/A2/15,Dt.05.10.2015.
G.O.MS.No. 118 Dated: 01.12.2015. Read the following: 1. G.O.Ms.No.31, dt.10.06.2014 issued by Agriculture & Coop (Agri.ii) Department. 2. Report submitted by the expert committee dt.21.7.2014. 3. From the DH&T, Lr. No.8566/2014-W,Dt.23.12.2014. 4. From the DH&T, Lr. No.8566/2014-W,Dt.05.06.2015. 5. From the CH&T, Lr. No.8566/2014-W,Dt.13.11.2015