look news india
Loan waiver: During the assembly elections, the Congress party had promised loan waiver for farmers. Telangana Chief Minister Revanth Reddy on Friday announced a loan waiver of Rs 2 lakh for farmers in the state. He said, “The Cabinet decided to waive agricultural loans up to Rs 2 lakh. The previous government had waived only Rs 28,000 crore of agricultural loans in its 10-year rule. The previous government had fixed December 11, 2018 as the cut-off date for availing the agricultural loan waiver scheme.”
Chief Minister Revanth Reddy said that full details including the terms of the loan waiver will be announced later. He said that the loan waiver will cost the state exchequer about Rs 31,000 crore. Earlier, the BRS government had also announced a similar scheme. This cost the state exchequer Rs 28,000 crore.
Reddy said in the statement, “The government has decided to waive loans for the welfare of farmers. The previous government did not fulfil its promise to farmers for ten years. Our government is fulfilling the promise made to farmers within eight months of coming to power in the state.”
After the meeting, Reddy also announced the formation of a Cabinet sub-committee headed by Deputy Chief Minister Mallu Bhatti Vikramarka to finalise the modalities of the farmers' investment support scheme 'Raithu Bharosa'. The Cabinet sub-committee will hold discussions with political parties and other stakeholders and submit its report by July 15, he said in the statement.
Let us tell you that earlier this year, Congress MP Rahul Gandhi had promised that if his party comes to power at the Centre, farmers' loans will be waived off.
