Telangana's Major Farm Loan Waiver Initiative: A New Dawn for Farmers

The Telangana government is rolling out a substantial farm loan waiver programme, benefiting 70 lakh farmers. Under the scheme, loans up to Rs 2 lakh will be waived by August 15. Chief Minister A Revanth Reddy announced Rs 7,000 crore will be credited to farmers' accounts. Special gatherings are planned to celebrate this initiative.

The Telangana government is set to launch a significant farm loan waiver programme, fulfilling a major poll promise that benefits 70 lakh farmers, according to official sources.

Chief Minister A Revanth Reddy had previously committed to implementing the loan waiver for amounts up to Rs 2 lakh by August 15. The initial tranche, covering loans up to Rs one lakh, will be deposited into farmers' accounts by 4 pm on Thursday.

Reddy revealed that a total of Rs 7,000 crore will be credited to the accounts of farmers whose loans up to Rs one lakh are being waived. Crops loans up to Rs 1.5 lakh will be waived by the end of July, and the process will complete in August with waivers up to Rs two lakh.

Additionally, Reddy suggested that gatherings of farm loan waiver beneficiaries be organized at 'Rythu Vedikas', with attendance from Ministers, MLAs, and other public representatives to share the joy with farmers.

Deputy CM Mallu Bhatti Vikramarka is scheduled to hold a meeting with bankers to discuss the flagship programme's launch.

A senior official will be available in the Secretariat for two districts to resolve any uncertainties raised by Collectors regarding the loan waiver scheme.

The state government has clarified that ration cards are solely for family identification. While there are 90 lakh ration cards in the state, only 70 lakh farmer accounts have bank loans. Moreover, 6.36 lakh farmers without ration cards who have taken farm loans are also eligible for the waiver.

(With inputs from agencies.)