Red Sanders Rs 1,000 Crore Mobilizing Funds Rescheduling Of Agricultural Loans

Riddled with poor funding and no clue as to the resignation of the massive farm loans, the government of Andhra Pradesh is all set to get a very much needed lifeline with the central government in cleaning your red sanders bidding request and generate income. Forestry Department has announced the AP reports that it has obtained permission to sell 4,000 tonnes of red sandalwood, seen as some relief to the cash-strapped government. Sources say red sanders, which is valued at 1,000 crore, will be very useful for fundraising, payments to banks and the reprogramming of the farm loans.

Sources say that the government also has plans to grow and use red sanders for financial securitization, to obtain loans in future or fundraising to manage any crisis. AP has approximately one crore acres of forest land while red sanders are grown in approx. 10 lakh acres of land, mostly in Chittoor, Kurnool and Kadapa districts. Used with permission to auction 4,000 tonnes of red sanders now, the state has another 4,000 tonnes stocks ready for auction. For all wood that has been confiscated from bootleggers in the last decade appears to be finally rescued AP CM slightly from financial mess!