Telangana Govt’s Farm Loan Waiver Scheme To Benefit 70 Lakh Farmers: All You Need to Know

Chief Minister A Revanth Reddy earlier announced that the government would implement the loan waiver up to Rs 2 lakh by August 15.

Hyderabad: The Telangana government will on Thursday launch a farm loan waiver programme, part of its poll promise, which will benefit 70 lakh farmers in the state. Chief Minister A Revanth Reddy earlier announced that the government would implement the loan waiver up to Rs 2 lakh by August 15.

Rs 1 Lakh To Be Deposited In Farmers’ Accounts

The loan waiver funds up to Rs 1 lakh will be deposited in the farmers’ accounts at 4 pm on Thursday. The chief minister said Rs 7,000 crore in total would be credited to the accounts of farmers whose loans of up to Rs one lakh are being waived. Crop loans of up to Rs 1.5 lakh would be waived by the end of July, and the loan waiver process would be completed in August when loans of up to Rs two lakh are dispensed with.

Reddy also suggested organising a gathering of farm loan waiver scheme beneficiaries at “Rythu Vedikas” and Ministers, MLAs and other public representatives of the respective districts should also attend and share the joy with the farmers.

Ahead of the launching of the flagship programme, Deputy CM Mallu Bhatti Vikramarka will hold a meeting with bankers this morning.

Senior Officer To Address Doubts On Loan Waiver Scheme

A senior level officer will be made available for two districts (undivided old district) in the Secretariat to clarify the doubts, if any, raised by the Collectors on loan waiver scheme and resolve them immediately.

The state government has clarified that ration cards are used only for family identification. The total number of ration cards in the state is 90 lakh and the number of farmer accounts with bank loans is only 70 lakh.

The chief minister clarified that 6.36 lakh farmers who do not possess ration cards and took farm loans are also eligible to avail the farm loan waiver benefit.