Telangana CM A Revanth Reddy’s Bold Move: Crop Loan Waiver Costing Rs 31k Crore

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📷 Image Credits: The Times of India

In a significant move, Telangana Chief Minister A Revanth Reddy has announced the waiver of crop loans up to Rs 2 lakh for farmers in one go, costing the state a whopping Rs 31,000 crore. This decision comes as a relief to the farming community, aiming to alleviate their financial burdens. The Chief Minister recently held a pivotal review meeting with officials from the Agriculture and Cooperation departments at the Secretariat in Hyderabad.

During the meeting, Revanth Reddy instructed the officials to carefully formulate the terms and references for the implementation of the crop loan waiver scheme. He emphasized the importance of fulfilling the promise made during the election campaign to waive off crop loans up to Rs 2 lakh for eligible farmers by August 15. The Chief Minister also stressed the need to prepare a comprehensive list of farmers who have availed loans and instructed the officials to liaise with bankers to collect the necessary details.

Moreover, Revanth Reddy directed officials to be vigilant in avoiding any discrepancies regarding the cutoff date for eligibility. He urged them to compile information not only from banks but also from Primary Agricultural Credit Societies (PACS) to ensure that deserving farmers are not overlooked. Additionally, the Chief Minister mandated that a clear plan be devised along with estimated expenditure for the successful execution of the loan waiver.

Furthermore, Deputy Chief Minister Mallu Bhatti Vikramarka, Agriculture Minister Thummala Nageswara Rao, and other key officials were present during the review meeting. The commitment to fulfill this massive financial obligation reflects the government’s dedication to supporting the agriculture sector and empowering farmers in the state. Stay tuned to HeadlineFly.com for more updates on this groundbreaking initiative.