AK Antony writes to PM for relief to students, farmers amid Covid-19 pandemic

In a letter dated April 26, the Rajya Sabha member from Kerala suggested that interest rates on these loans be waived off during the time when the moratorium is in place.

Senior Congress leader AK Antony has written to Prime Minister Narendra Modi, asking for a more comprehensive economic relief package that shields vulnerable sections such as students and farmers from the crisis triggered by the coronavirus disease (Covid-19) pandemic.

Senior Congress leader AK Antony said that moratorium on loan payments recently announced by the government should be extended for a longer period of at least a year. (Hemant Mishra/Mint file photo)

A moratorium on loan payments recently announced by the government should be extended for a longer period of at least a year, he said.

In a letter dated April 26, the Rajya Sabha member from Kerala suggested that interest rates on these loans be waived off during the time when the moratorium is in place. “The moratorium on existing loans would have to be extended to a longer period (at least one year) till we see signs of economic normalization especially for the ones most vulnerable during the Covid crisis like our farmers and students,” Antony’s letter said.

Most of the students, especially those abroad, rely on part-time employment while they pursue their studies for their sustenance. As incomes have stopped, and exchange rates are rising, the student community abroad is facing difficulties, he said.

“It would be appropriate that the credit line is offered through our Embassies and High Commission abroad without interest along with the provision of any other possible support through our foreign missions which will allow them to meet their basic living expenses,” Antony added.