Crop Loan Waiver Scheme Launched in Telangana by CM Revanth Reddy

Hyderabad: On Thursday, Telangana’s much-anticipated crop loan waiver scheme was launched by Chief Minister A Revanth Reddy. The initiative aims to alleviate farmers’ financial burdens by waiving off their crop loans in phases:

First Phase: Loans up to Rs. 1 lakh will be waived by depositing Rs. 6,098 crore into the bank accounts of 11.50 lakh farmers.
Second Phase: Loans up to Rs. 1.5 lakh will be waived, requiring about Rs. 8,000 crore.
Third Phase: Loans up to Rs. 2 lakh will be waived by the end of August, needing Rs. 15,000 crore.

Key Points:

The scheme does not impose any terms and conditions, unlike the previous government’s approach.
The passbook is the only criterion for loan waiver eligibility.
Rs. 29,000 crore has been spent on welfare schemes in the past seven months.
Salaries and pensions are being paid promptly on the first of every month.

The Chief Minister emphasized that the Congress government is dedicated to the welfare of the people and criticized the previous government’s unmet promises. He also highlighted future plans to enhance water supply through the Tummadihatti irrigation project. Additionally, a public meeting will be held to express gratitude to the AICC leadership, with an invitation extended to Congress MP Rahul Gandhi. The CM urged farmers to disregard false information and approach local banks for any issues with the loan waiver scheme.

After the inauguration Chief Minister A Revanth Reddy wrote on X as…

Today in my life…
An unforgettable memory…
In the agricultural history of the state…
This is a wonderful moment.
A farmer who sweats for irrigation…
Trapped in debt Shouldn’t be impenetrable…
Hand to put rice…
There should not be a situation of begging…
That’s why…
People’s government simultaneously…
With loan waiver of Rs.2 lakh…
She offered her hand to the breadwinner.
Today up to Rs. Loans have been waived off.
Completed loan waiver of Rs.2 lakh in August…
If Congress promises…
We will prove that it is an epitaph.
#TelanganaRunaMafi

ఈ రోజు నా జీవితంలో…
మరచిపోలేని మధుర జ్ఞాపకం…
రాష్ట్ర రైతాంగ చరిత్రలో…
ఇదొక అద్భత ఘట్టం.

సేద్యం కోసం స్వేదం చిందించే రైతు…
అప్పుల ఊబిలో చిక్కి…
అగమ్యగోచరం కాకూడదు…
అన్నం పెట్టే చెయ్యి…
యాచించే పరిస్థితి ఉండకూడదు…

అందుకే…
ప్రజా ప్రభుత్వం ఏకకాలంలో…
రూ.2 లక్షల… pic.twitter.com/GQgUQAIQEG
— Revanth Reddy (@revanth_anumula) July 18, 2024