Telangana Chief Minister A Revanth Reddy grants Rs 2 lakh loan waiver to state farmers

In a significant move aimed at providing relief to farmers in Telangana, Chief Minister A Revanth Reddy made an announcement on Friday. A loan waiver of up to Rs 2 lakh for farmers in the state was declared following a cabinet decision.

Speaking on the matter, Revanth Reddy highlighted that the decision to waive farm loans up to Rs 2 lakh was taken as part of the government's commitment to supporting the agricultural community. Noting that the previous administration had only waived Rs 28,000 crore of farm loans over a decade, he emphasised that the new measure was a step towards fulfilling promises made to farmers.

Further details, including the eligibility criteria for the loan waiver scheme, are expected to be disclosed soon. The estimated cost of the loan waiver was quoted at around Rs 31,000 crore from the state treasury. Comparing it to a similar scheme announced previously by the BRS government, which had cost Rs 28,000 crore, Reddy highlighted the current administration's dedication to prioritising the welfare of farmers.

In a bid to streamline and finalise the implementation of the farmers' investment support schemes under 'Rythu Bharosa,' a cabinet sub-committee led by Deputy Chief Minister Mallu Bhatti Vikramarka was formed post the announcement. This committee is set to engage in consultations with various political parties and stakeholders, with its findings expected to be presented by July 15.

The swift action by the Telangana government to address the concerns of farmers comes in the wake of similar promises and commitments made by leaders across the political spectrum. With this move, the government aims to uphold its commitment to the agricultural community and ensure the well-being of farmers in the state.