Telangana releases Rs 6,190 cr for 2nd phase of crop loan waiver
CM Revanth says: July and August will be remembered as significant months in the history of Telangana
Hyderabad: The Telangana government on Tuesday launched the second phase of crop loan waiver, releasing Rs6,190 crore into the accounts of farmers.
Chief Minister Revanth Reddy along with Deputy Chief Minister Bhatti Vikramarka and other ministers launched the second phase of crop loan waiver on the premises of Assembly and formally handed over a cheque of Rs6,190 crore to farmers.
Speaking on the occasion, the Chief Minister said that his government had proved its commitment by waiving the farm loans up to Rs 1.5 lakh within a month and farm loans up to Rs 2 lakh would be waived by August, giving freedom to the farmers from debt burden.
“July and August will be remembered as significant months in the history of Telangana. The State has created a history in the country by waiving of the farm loans in a record one month time. No State in independent India has so far waived farmers’ loans on such a large scale,” Revanth Reddy said.
The Chief Minister alleged that the previous BRS government had failed to waive the farm loans even up to Rs 1 lakhs in four phases during the 60 months rule and waived farm loans hardly Rs 25,000 crore.
“The Congress party announced Farmer Declaration on May 6, 2022 in Warangal to bring happiness in the distressed peasants’ lives. After the Congress party came to power in Telangana, some have raised serious doubts on the implementation of farm loan waiver amid deep financial crisis the State is facing. But, the State government has prepared plans to waive the loans despite facing fund crisis and mobilised required funds successfully,” Revanth Reddy said.
The Chief Minister stated that about six lakh farmers will get benefit from the second phase farm loan waiver scheme
He said the State government had paid Rs 43,000 crore as interest on the debts incurred by the previous government in six months and appreciated Finance Minister Bhatti Vikramarka and his staff for mobilising Rs.12,000 crore for loan waiver within 12 days.