₹6,190 crore funds released for Telangana farmers

Chief minister A Revanth Reddy clicked the mouse of the computer, crediting ₹1.5 lakh to each of 640,823 loan accounts belonging to 545,407 farmers in various commercial and cooperative banks.

The Telangana government on Tuesday released ₹6,190 crore towards the waiver of crop loan arrears of farmers up to ₹1.5 lakh in the second phase, as part of the six guarantees promised by the Congress before the last assembly elections in the state.

In the first phase of the crop loan waiver scheme rolled out by the CM on July 18, an amount of ₹6,098.93 crore was transferred into 1,150,000 loan accounts of 1,084,000 farmers to waive off crop loans up to ₹1 lakh. (ANI)

At a function held at his chambers in the state assembly, chief minister A Revanth Reddy clicked the mouse of the computer, crediting ₹1.5 lakh to each of 640,823 loan accounts belonging to 545,407 farmers in various commercial and cooperative banks.

Deputy chief minister Mallu Bhatti Vikramarka, other cabinet colleagues, state legislative assembly speaker Gaddam Prasad, legislative council chairman Gutta Sukhender Reddy and several Congress MLAs attended the event.

In the first phase of the crop loan waiver scheme rolled out by the CM on July 18, an amount of ₹6,098.93 crore was transferred into 1,150,000 loan accounts of 1,084,000 farmers to waive off crop loans up to ₹1 lakh.

Speaking at the event, Revanth said the crop loan waiver scheme was announced by the Congress in the Farmers’ Declaration at a rally in Warangal on May 6, 2022 and was later included in the party’s election manifesto as part of six guarantees in the last assembly elections.

“The decision was taken not for any political gains, but to extend benefits to the farmers and see that they would be cleared of their debts. While the previous Bharat Rashtra Samithi government could not waive even ₹25,000 crore in the last 10 years, our government is committed to waive of ₹31,000 crore by August end,” he said.

Revanth pointed out that there were apprehensions among certain sections how the Congress government would implement the scheme in view of the precarious financial position of the state which was in deep debts.

“But we have worked out plans and mobilised funds to implement the crop loan waiver scheme at any cost. In the second phase, we have released ₹6,198 crore to benefit 650,000 farmers. This shows our commitment and dedication,” he said.

The chief minister declared that by August end, the government would waive off the remaining crop loan arrears up to ₹2 lakh.

“It is an all-time record in the history of the country that the government is waiving crop loans up to ₹2 lakh,” he said and complimented state finance minister Vikramarka for mobilising more than ₹12,000 crore within 12 days to waive of crop loans in a big way.