Hyderabad: The first phase of the loan waiver very late crops, a poll promise of Andhra Pradesh Chief Minister N. Chandrababu Naidu, will finally be implemented since December 10. In phase I, crop loans below 50,000 Rs will not be charged completely.

However, the resignation of crop loan DWCRA groups was not announced and Mr. Naidu said would take place shortly.

The first phase will cover farmers who have obtained loans below Rs 50,000 and those who have used loans of over Rs 50,000 with a total maximum limit of Rs 1.50 lakh per family.

The first phase will cover 40.43 lakh accounts or 26.77 lakh persons or 22.79 lakh families.

In the second phase, 42.23 lakh accounts are verified before the eligible farmers are prescreened. The verification exercise will start from December 9 to January 8.

The Government will carry out Aadhaar and linking ration card and eliminate the false and multiple other holders of accounts between January 9 and January 14.

Phase-II of crop loan waiver will be held from January 17 and will be completed before January 22.

"In one fell swoop, will waive loans crop farmers who had obtained loans of up to Rs 50,000. It is a scheme of loan repayment crop," said the CM at a press conference at his residence Thursday.

For farmers with loans received by over 50,000 rupees, the state government will deposit 20 percent of the amount in their accounts as a first installment.

The remaining amount will be deposited in four installments over the next four years or sooner depending on the financial condition of the state.