Crop Loan Waiver In Three Installments: Revanth Reddy

Chief Minister Revanth Reddy today said that the crop loans would be waived in three installments, and that the process would be completed by the end of August.

Sharing the details at a meeting with Congress MLAs, MLCs and MPs, and other party leaders, at Praja Bhavan, the CM said that Rs 7,000 crore would be released in the first installment, and reimbursements for crop loans of up to Rs 1 lakh would be credited to the accounts of farmers by 4 PM on Thursday.

Crop loans of up to Rs 1.5 lakh would be waived off by the end of this month, and those of up to Rs 2 lakh would be waived off in August, Reddy said.

"Despite being in power for ten years, the BRS government could not waive off farmers' loans amounting to Rs 28,000 crore. But the Congress government is showing its commitment and sincerity by waiving off the loans as promised in its Warangal declaration of May 6, 2022, in less than a year of coming to power," the CM said.

The Chief Minister called upon the party leaders to conduct celebrations on a grand scale at village and mandal levels to mark the occasion of the release of the first installment of the crop loan waiver.

"MLAs, MPs and other elected representatives should participate in the celebrations. There should be a festive atmosphere everywhere in Telangana on Thursday," he said.