KCR’s crop loan waiver brings cheer among farmers in Telangana

HYDERABAD: Farmers across Telangana are jubilant over Chief Minister K Chandrashekar Rao’s decision to waive crop loans. Celebrations organised by BRS leaders witnessed large gatherings where farmers participated and conducted ‘palabhishekam’ (milk bath) to KCR’s portrait. The state echoed with slogans of “Jai KCR” during the celebrations.

Narsi Reddy, a farmer from Mamdapuram village, Valigonda mandal, Yadadri-Bhuvanagiri district, lauded KCR for Rythu Bandhu scheme, old-age pension and, of course, crop loan waiver. He also expressed confidence in KCR victory in the forthcoming Assembly elections, as the entire State was now flouring with lush green crops and enormous water supply and abundant supply of electricity.

Another farmer, Maddela Hanmanth from Nemilikaluva, Valigonda mandal, Yadadri Bhuvanagiri district, expressed his happiness over the round-the-clock power supply, irrigation water and pension to all farmers in the State. He further expressed his gratitude to KCR for crop loan waiver reducing the debt burden of farmers.

Crop-loan waiver scheme:

Considering the plight of the farmers in the state, KCR Government waived off 100 percent outstanding loans for all the farmers with loans up to Rs 1,00,000 in the state. With the ongoing disbursement, crop loan waiver promise is fulfilled completely.

During the 2018 elections, KCR promised to waive off farmers' loans up to Rs 1,00,000 and keeping the promise led to the kicking off of loan waiver process from August 3, 2023 and is set to be completed by September 15, 2023 in a phased manner, showing the government's dedication to timely implementation.

Process of Crop Loan Waiver:

In the 1st phase Telangana government has waived off Rs 16,144.10 crore for 35,31,913 eligible farmers until March 31, 2014.

In the 2nd phase from April 1, 2014 –December 11, 2018 government has decided to waive off loans upto Rs 1,00,000 (principal together with applicable interest) for 42.56 lakh eligible farmers which amounts to Rs 28,930 crores.

As a part of 1st and 2nd instalment in the second phase, the Government had credited Rs 408.38 crore into 2,96,571 lakh farmers’ loan accounts where the total outstanding was up to Rs 25,000 according to the GO No: 140 of March 17, 2020 and Rs 798.99 crores benefitting 2,46,038 farmers through GO No: 401 – June 6, 2021 respectively.

With the latest decision for disbursement Rs 19,000 crore for 29.11 lakh farmers with utstanding amount between Rs 50,000 – Rs 1,00,000 will be waived off in phased manner in the next 45 days.

On Thursday, the government has waived off loans between Rs.37,000 and Rs.41,000 amounting to Rs.167.59 crores. As a result, 44,870 farmers were benefitted.