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Telangana farm loan waiver announced: Telangana Chief Minister A. Revanth Reddy on Thursday launched the farm loan waiver scheme. In the first phase, Rs 6,098 crore was credited to the accounts of farmers with loans up to Rs 1 lakh under the scheme. Reddy handed over cheques to some farmers at a function held at the state secretariat. He also spoke to some farmers through video conference.
According to the Chief Minister, Rs 6,098 crore has been given to the bank to benefit 11 lakh farmers. The agricultural loan waiver scheme will be completed in three phases. He said that in the second phase, crop loans up to Rs 1.5 lakh will be waived by the end of July, while in the third phase, loans up to Rs 2 lakh will be waived in August. Addressing the program, the Chief Minister said that the loan waiver scheme of Rs 31 thousand crore will be implemented in three phases and it will be completed by August.
He alleged that the previous Bharat Rashtra Samithi (BRS) government did not properly implement the promise of farm loan waiver despite being in power for two terms. The Chief Minister claimed that the Congress government was paying about Rs 7,000 crore in interest every month on the loan of Rs 7 lakh crore taken during the previous government.
Reddy said the Congress government is launching loan waivers as promised by Congress Parliamentary Party chairperson Sonia Gandhi at a public rally in Telangana in 2022 and later by current Lok Sabha Leader of Opposition Rahul Gandhi in the state in 2023. He also said he will soon visit Delhi and invite Rahul Gandhi to join a public meeting in the state later this month to express his gratitude.
The state government has clarified that the ration card is used only for family identification. The total number of ration cards in the state is 90 lakh and the number of farmer accounts with bank loans is only 70 lakh. The Chief Minister clarified that the 6.36 lakh farmers who do not have ration cards and have taken agricultural loans are also eligible to get the benefit of agricultural loan waiver.