Telangana CM Launches Rs 6,098 Crore Farm Loan Waiver Scheme

Telangana Chief Minister A Revanth Reddy launched a Rs 6,098 crore farm loan waiver scheme. The first phase benefits 11 lakh families, with loans up to Rs one lakh waived. The programme will conclude in August, waiving loans up to Rs two lakh in three phases. Reddy criticized the previous BRS government and emphasized Congress' fulfillment of promises.

Telangana Chief Minister A Revanth Reddy on Thursday initiated a Rs 6,098 crore farm loan waiver scheme, with the first phase seeing the amount credited to the bank accounts of farmers whose loans of up to Rs one lakh are being waived.

Reddy distributed cheques to some farmers at an event in the Secretariat and interacted with others via video conferencing. The scheme is set to benefit nearly 11 lakh families.

The loan waiver will be executed in two additional phases, waiving loans up to Rs 1.5 lakh by July and up to Rs two lakh by August. The CM criticized the previous BRS government for failing to implement its farm loan waiver promises and highlighted Congress' ongoing efforts, citing Rahul Gandhi and Sonia Gandhi's guarantees. He also noted the Rs 29,000 crore spent on welfare programmes since December.

Reddy drew a parallel to the 2009 loan waiver by former PM Manmohan Singh, promoting the 'Telangana model' as a template for other political parties. He urged farmers to support this initiative and announced plans to invite Rahul Gandhi to a public meeting later this month.