Telangana News | Government Releases Rs. 6098 Crores for Crop Loan Waiver as First Installment
The State government released over Rs. 6,098 crores under the first installment of the loan waiver scheme -2024, benefiting farmers with crop loans up to Rs. one lakh.
Hyderabad: The State government released over Rs. 6,098 crores under the first installment of the loan waiver scheme -2024, benefiting farmers with crop loans up to Rs. one lakh.
Chief Minister Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu formally initiated the disbursement from the Secretariat, marking a significant milestone for farmers in Telangana.
Addressing the gathering, Chief Minister Reddy expressed profound satisfaction, stating, “Today is an unforgettable day in my life. We have fulfilled our promise to the farmers.”
He reiterated the Congress party’s commitment made during the 2023 Assembly elections to waive loans up to Rs. 2 lakh for farmers, a pledge now being fulfilled in Telangana.
“In addition to this, farmers with loans between one to one and a half lakh rupees will also receive debt relief soon. The process for waiving loans up to Rs. 2 lakh will be completed by the end of August,” Chief Minister Reddy assured.
He criticized the previous government led by BRS for failing twice to deliver on its promises of loan waivers, highlighting discrepancies in the amount disbursed compared to the promises made.
“During the first term, K Chandrashekar Rao promised a waiver of Rs. 16,000 crores but only disbursed Rs. 12,000 crores. In the second term, out of Rs. 12,000 crores promised, only Rs. 9,000 crores were paid. Over ten years, KCR’s government failed to disburse even Rs. 21,000 crores towards loan waivers despite widespread farmer distress,” Chief Minister Reddy pointed out.
He announced plans for a large-scale public meeting with farmers in Warangal, where Congress leader Rahul Gandhi will be invited.
“We have achieved what the previous government could not in the last decade,” Chief Minister Reddy affirmed.
Deputy Chief Minister Bhatti Vikramarka described the day as a historic festival for farmers in Telangana, emphasizing that the state’s move to waive loans up to Rs. 2 lakh sets a precedent nationwide.
“No other state has implemented such a comprehensive loan waiver program for farmers. Telangana has set a benchmark,” Bhatti Vikramarka stated proudly.
