Telangana Farm Loan Waiver Continues

Telangana Government to Waive Off Farm Loans up to Rs 1.5 Lakh

Hyderabad: The Telangana government is set to launch the second phase of its farm loan waiver program, which will cover loans ranging from Rs 1 lakh to Rs 1.5 lakh, starting on Tuesday, July 30. This initiative will be officially inaugurated by Chief Minister A Revanth Reddy at the Assembly premises, marking a significant step in the state’s efforts to support its farmers.

In this phase, the government plans to waive off the farm loans of 7 lakh farmers by depositing Rs 7,000 crore directly into their loan accounts. This substantial financial relief aims to alleviate the burden on farmers and promote agricultural stability in the region.

The first phase of the farm loan waiver, initiated on July 12, saw Rs 6,093 crore deposited into the loan accounts of 11.5 lakh farmers across the state. However, due to technical issues, the loans of approximately 17,000 farmers could not be waived off in the initial phase.

Addressing these technical challenges, the government is committed to ensuring that all eligible farmers benefit from this scheme. The upcoming phase targets waiving off loans for farmers with borrowings between Rs 1.5 lakh and Rs 2 lakh by August 15, further extending the support to those in need.

Chief Minister Reddy emphasized the importance of this initiative, stating that the government is dedicated to the welfare of the farming community. By providing financial relief, the state aims to boost agricultural productivity and support the livelihoods of farmers, who are the backbone of Telangana’s economy.

The loan waiver program is a part of the government’s broader strategy to address the financial difficulties faced by farmers. This includes various measures such as providing subsidies, improving irrigation facilities, and offering better access to agricultural resources. The government’s proactive approach is designed to create a sustainable and prosperous agricultural sector.

Farmers who benefited from the first phase have expressed their gratitude, highlighting the positive impact of the loan waivers on their lives. With the second phase underway, many more farmers are expected to experience similar relief, enabling them to focus on their agricultural activities without the constant worry of debt.

The Telangana government’s commitment to supporting its farmers is evident through these initiatives. By addressing both immediate financial concerns and long-term agricultural development, the state aims to create a robust farming sector that can withstand economic challenges and contribute significantly to the state’s growth.

The successful implementation of the farm loan waiver program is a testament to the government’s dedication to its farmers. As the second phase begins, the administration is keen on ensuring transparency and efficiency in the process, ensuring that all eligible farmers receive the benefits they deserve.

The announcement of the third phase, planned for mid-August, demonstrates the government’s ongoing commitment to this cause. By continuously addressing the needs of the farming community, Telangana is setting an example for other states to follow in terms of agricultural support and development.

As the state government rolls out these phases, farmers across Telangana can look forward to a more secure and stable future. The loan waiver program not only provides immediate relief but also paves the way for long-term agricultural prosperity in the region.

Telangana Chief Minister A Revanth Reddy on Sunday said that the state government would waive off the farm loans of up to Rs 2 lakh by August. The announcement comes ahead of the local body elections in the state. Speaking at a public meeting at Kalwakurthy, Nagarkurnool, Telangana CM Reddy said, “We have already waived farm loans up to Rs 1 lakh. Farm loans up to Rs 1.50 lakh will be waived by July 31. A total loan waiver of Rs 2 lakh will be completed by August.”

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