Congress govt in Telangana to implement Rs two lakh farm loan waiver

Hyderabad, Jun 21 (PTI) Telangana Chief Minister A Revanth Reddy on Friday said a loan waiver of Rs two lakh for farmers would be implemented soon.

Speaking to reporters after a meeting of the state cabinet, Revanth Reddy said loans of up to Rs two lakh taken by farmers during December 12, 2018 to December 9, 2023 would be waived at one go.

"Our government in the cabinet decided to waive off loans of Rs two lakh taken by farmers of the state during December 12, 2018 to December 9, 2023, a period of five years," he said.

The details of the loan waiver, including the eligibility conditions, would be announced in a Government Order (GO) soon, he said.

He said the loan waiver would cost the state treasury an amount of about Rs 31,000 crore.

The previous BRS government did a second-phase loan waiver with December 11, 2018 as the cut-off date, he said.

He alleged that the previous government led the farmers and farming into a crisis by not implementing its promise of Rs one lakh loan waiver with sincerity, whereas his government is fulfilling its election promise of Rs two lakh farm loan waiver.

The chief minister announced the formation of a cabinet sub-committee, headed by Deputy Chief Minister Mallu Bhatti Vikramarka, to finalise the modalities of the farmers' investment support schemes of 'Rythu Bharosa'.

The cabinet sub-committee would hold consultations with political parties and other stakeholders and submit its report by July 15, he said.

The government would present the panel's report in the coming budget session of the assembly, he added.

The modalities of the scheme would be firmed up after taking the views of legislators. PTI SJR VVK SJR ANE