Telangana News | CM Revanth to Launch Second Phase of Crop Loan Waiver Tuesday
Chief Minister Revanth Reddy will officially launch the loan waiver process on the premises of the Assembly. Deputy Chief Minister Bhatti Vikramarka and Agriculture Minister Tummala Nageswara Rao will also attend the program.
Hyderabad: The second phase of the crop loan waiver scheme in Telangana will begin on Tuesday.
Chief Minister Revanth Reddy will officially launch the loan waiver process on the premises of the Assembly. Deputy Chief Minister Bhatti Vikramarka and Agriculture Minister Tummala Nageswara Rao will also attend the program.
In this second installment, farmers’ loans of up to Rs. 1.5 lakh will be waived off by the State government. The funds will be directly deposited into the loan accounts of the farmers. On July 19, the Telangana government waived crop loans of up to ₹1 lakh in the first phase of the scheme.
Due to incorrect Aadhaar numbers and other technical issues, there were difficulties in distributing the loan amount to some farmers in Telangana.
The government will directly deposit the funds for the second tranche of the loan waiver into the accounts of the beneficiaries. The entire loan waiver process is targeted to be completed by August 15 or by the end of August.
This initiative aims to provide significant relief to farmers and support the agricultural sector in the state.
