YCP Targets Paddy, Aqua Farmers For Addl Loans?

With the banks refusing to give loans to the AP government, Chief Minister Y.S. Jagan Mohan Reddy reportedly is trying to find new sources to get the money.

AP Gov is keen on drawing more loans and it is being said that he is trying to deceive the farmers now.

There is talk that the YCP government is planning to get Rs 1,600 crore loan showing the additional income it would get from the traders by doubling the market fee.

For this, it has targeted the paddy and aqua traders. The market fee collected from these traders has been doubled.

In the orders issued by the government, it has been confirmed that the additional fee would be collected for the next 10 years or till the loan amount is repaid.

The government has affirmed that the additional tax would be collected from the traders but in fact, the burden will have to be borne by the farmers.

At present, 1% of tax is being collected from paddy traders and it has been increased to 2% while the cess on export of prawns has been increased to 1% from 0.25%. Similarly, the cess on prawns being sold in the domestic market has also been increased to 1% from 0.50%.

Irrespective of the place where the crop is bought, this cess will be collected at all the marketing check posts, apart from the market yards.

The government said that the funds collected through additional tax would be utilised to improve infrastructure in the market yards and rythu bazars.

However, the opposition leaders feel that the government would not spend the funds on improving the infrastructure but divert it for some other use. Will the YCP government draw loans to improve infrastructure, they asked.