The Telangana government is set to launch its much-anticipated farm loan waiver programme on Thursday fulfilling a key election promise to benefit 70 lakh farmers, according to official sources, quoted by PTI. Telangana Chief Minister A Revanth Reddy stated that a total of Rs 7,000 crore would be credited to the accounts of farmers whose loans of up to Rs 1 lakh are being waived.
Telangana Farm Loan Waiver Programme
Telangana CM Reddy had previously announced that the government would implement loan waivers of up to Rs 2 lakh by August 15.
In line with the commitment, funds for loan waivers up to Rs 1 lakh will be deposited into farmers' accounts at 4 PM on Thursday.
He further outlined that crop loans of up to Rs 1.5 lakh would be waived by the end of July, with the entire loan waiver process culminating in August, when loans of up to Rs 2 lakh are settled, as per a report on PTI.
To mark this significant initiative, Reddy suggested organizing gatherings for the beneficiaries of the farm loan waiver scheme at "Rythu Vedikas". Ministers, MLAs, and other public representatives from respective districts are expected to attend these events to share in the farmers' joy.
Ahead of the programme's launch, Deputy Chief Minister Mallu Bhatti Vikramarka will hold a meeting with bankers to ensure smooth implementation. Additionally, a senior officer will be available at the Secretariat for every two districts to address any doubts or issues raised by Collectors regarding the loan waiver scheme, as per the report.
The state government has clarified that ration cards are solely for family identification purposes. While there are 90 lakh ration cards in the state, only 70 lakh farmer accounts have bank loans. The Chief Minister emphasized that 6.36 lakh farmers who do not possess ration cards but have taken farm loans are also eligible for the loan waiver benefit.