Key Takeaways
- The Telangana government has fulfilled its loan waiver promise, waiving off farmers’ loans worth Rs 17,869 crores.
- The loan waiver scheme benefits 22.22 lakh farmers, making them debt-free within 27 days.
- The Telangana government has allocated Rs 26,000 crore in this year’s budget for loan waivers and is prepared to spend up to Rs 31,000 crore to ensure that every eligible farmer benefits.
Hyderabad: Telangana Chief Minister A Revanth Reddy has informed Prime Minister Narendra Modi that his government has successfully fulfilled its commitment to waive off farmers’ loans in the state.
The Telangana government has waived loans worth Rs 17,869 crores within 27 days, benefiting 22.22 lakh farmers. This is a significant achievement for the state government.
The Chief Minister highlighted that the Congress, which came to power in Telangana with the promise of loan waivers, has lived up to its word. The loan waiver has been executed in phases, with the government transferring Rs 6,034.97 crores to the accounts of 11,34,412 farmers with loans up to Rs 1 lakh on July 18, 2024.
Subsequently, on July 30, Rs 6,190.01 crores were credited to the loan accounts of 6,40,823 farmers, followed by another tranche of Rs 5,644.24 crores on August 15, reaching 4,46,832 farmers.
“With this initiative, we have made 22,22,067 farmers debt-free within 27 days,” the Chief Minister emphasized. The waiver is applicable to loans up to ₹2 lakhs, and the government has assured that loans exceeding Rs 2 lakhs will also be addressed if the farmers pay the remaining amount.
Reddy criticised Prime Minister Modi’s earlier statements on the loan waiver issue, expressing disappointment over remarks that did not align with ground realities. He asserted that the waiver is a clear demonstration of his government’s determination to empower farmers and enhance the agricultural productivity of the state.
“Our government has allocated Rs 26,000 crore in this year’s budget for loan waivers and is prepared to spend up to Rs 31,000 crore to ensure that every eligible farmer benefits. We appeal to you to support the farmers of Telangana and work together to alleviate the financial burden on those dependent on agriculture,” Reddy added.
The Chief Minister stated that complete details of the loan waiver scheme have been made available on the state government’s official website, underscoring the transparency and dedication of the Congress government in ensuring farmers’ welfare.
The loan waiver scheme, Reddy said, will serve as an example for other states to prioritise agricultural development and the well-being of farmers.
He sought the Prime Minister’s cooperation for the continued welfare of farmers in Telangana and called for collective efforts to uplift their self-esteem and financial stability.
