Government Releases Rs 6,098 Crore For Crop Loan Waiver

The State government today released over Rs 6,098 crore into the accounts of farmers who have outstanding crop loans of up to Rs 1 lakh, as the first installment of its flagship farm loan waiver scheme which aims to waive off crop loans of upto Rs 2 lakh.

Chief Minister Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka formally released the amount into the accounts of farmers.

Speaking on the occasion, the CM said, "This is an unforgettable day in my life. We have fulfilled our promise to our farmers made during the 2023 Assembly election campaign."

"This is the first installment of the loan waiver process. Farmers who have loans of Rs 1-1.5 lakh will get the waivers in the next installment. And by the end of August, the process of Rs 2 lakh loan waiver will be complete," the CM said.

He alleged that the previous BRS government had failed to implement its own crop loan waiver promise twice, and never stood by any of its words.

"In the first five years, former CM K Chandrashekar Rao had promised to waive off Rs 16,000 crores of loans, but gave only Rs 12,000 crore. During the second term, only Rs 9,000 crore were paid out of the Rs 12,000 crore promised by the BRS. Even though farmers were committing suicides, KCR did not fulfill his promise to them," the CM claimed.

"We have done what the BRS government could not do in the last ten years," the CM said.

Reddy also announced that a huge public meeting would be held with the farmers in Warangal soon, and that Congress leader Rahul Gandhi would be invited to the meeting.

Deputy CM Bhatti Vikramarka said that today was a big festival for farmers in Telangana, and was a day that needed to be written with golden letters in the nation's history.

"The whole country is looking at Telangana with wonder for waiving off crop loans of upto Rs 2 lakh in one go. No State has ever implemented a Rs 2 lakh waiver for farmers in one go. By doing so, Telangana has created a record," Bhatti said.