Ina startling revelation, the Economic Survey conducted by the union government, had disclosed that 50 epr cent of the farmers in Andhra Pradesh fell in debt trap as there were denied institutional credit. Most of them took loans from private lenders or mortgaged their properties at higher interest rates.
The survey explained the quantum of debts incurred by the farmers from private lenders was Rs 32,377 crore , out of which small and marginal farmers alone have taken Rs 25,872 crore .
Farmers living standards in Andhra also declined when compared to other backward states like Rajastan and Uttar Pradesh also.
The report also said that state per capita income has reduced to 13.1 per cent in 2016-17 as against 15 per cent increase in the corresponding year. Gross State Domestic Product (GSDP) also gone down to 13.8 per cent from 16 per cent this year.