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STATE WANTS TO WAIVE OFF LOANS TAKEN BY BPL FAMILIES

The Rs 1,000-crore plus loan outstanding towards nine state development corporations under the social justice department is sought to be waived off by the Maharashtra government as a Diwali sweetener. According to a government official, the state was seeking to waive off loans taken by below poverty line families from the Mahatma Phule Finance Development Corporation, Leather Industries Development Corporation and Annabhau Sathe FDC which offer cheap loans of upto Rs 30,000. This has set off a run amongst other corporations that are also seeking a similar treatment. These corporations include Vasantrao Naik VJNT Corporation, Maharashtra state other backward castes FDC, Maharashtra State Handicapped FDC, Maulana Azad Minority FDC, Maharashtra State Khadi Gramudyog FDC and the Mahile FDC. Now the state government is hard pressed to decide on whether the entire money disbursed as loans by all these corporations, which run up to well over Rs1,000 crore, should be waived off. Similarly, the state has to decide the cut-off date prior to which the loans owed to these corporations will be waived off. Bureau report NMTV

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