Loan waiver scheme to be implemented by June 30

THIRUVANANTHAPURAM: The farmers' loan waiver scheme announced by the Centre would be implemented throughout the country by June 30, Union Minister of state for Planning V Narayanaswamy said here on Sunday.

"State governments have been asked to submit their reports and the estimated amount for waiver by April 30," he told reporters here today.

He said officials concerned had been told not to ask "needless" questions from farmers' submitting petitions for waiver of loans. This direction followed complaints that some officials were not entertaining petitions, he said.

On the price rise of essential commodities, he said it was a global phenomena and that the inflation rate in India was much lower as compared to other countries.

Rejecting the Left parties' demand for strengthening the Public Distribution System and cut in rate of petrol tax, he said diversion of foodgrains meant for PDS was responsible for rise in wheat and rice prices. The tax rate on petroleum products was much less in India than in other countries, he pointed out.

On the Left parties demand for a ban on forward trading of foodgrains, he said the government would take a decision in a week, as the committee set up by the Centre to study the issue would submit its report in two days.