KCR Orders Clearing Of Outstanding Farm Loans By September

In a major development, Chief Minister K Chandrashekar Rao on Wednesday decided to clear the outstanding farm loans, and ordered the launch of the process for it from Thursday.

The Chief Minister held a high-level review meeting at Pragathi Bhavan on the steps to be taken to restart the farmer loan waiver program.

He directed Finance Minister T Harish Rao and other senior officials to complete the loan waiver process in a phased manner by the second week of September.

The Chief Minister said that the farm loan waiver had already been completed for some farmers, and that an amount of Rs 19,000 crore that was still outstanding should be cleared immediately in a stipulated period.

KCR claimed that the State government had abided by its promise of clearing the farm loans.

"Due to the slowdown caused by the demonetisation decision taken by the Centre, the financial problems caused by the Corona-19 pandemic and stoppage of FRBM funds from the union government to Telangana, the BRS government couldn't clear the farm loans fully, and the process got delayed for some time. However, with Telangana's economy back on track after the pandemic, the State government is all set to restart the farm loan waiver process," he said.

Chief Advisor to the Chief Minister Somesh Kumar, Special Principal Secretary (Finance) Ramakrishna Rao, Principal Secretary of HMDA Arvind Kumar and Secretary of Agriculture Raghunandan Rao were also present in the meeting.