Srinivas Reddy praises Telangana CM for waiving off crop loans in one go
Ponguleti declared July 18 as a historic day for Telangana, with the government crediting the waived loan amounts into farmers' accounts by the evening.
HYDERABAD: Revenue Minister Ponguleti Srinivas Reddy has lauded the state government's decision to waive farm loans up to Rs 2 lakh as a historic move that makes the impossible possible. This decision, he said, fulfills the government's promise to stand by the farmers and provide them with financial support.
In a statement released on Wednesday, Srinivas Reddy recalled how former Chief Minister K Chandrashekar Rao had himself stated in the Assembly that a one-time loan waiver of Rs 1 lakh was not feasible. "However," he said, "our current Chief Minister Revanth Reddy has taken a revolutionary decision by waiving loans up to Rs 2 lakh, turning the impossible into possible."
Acknowledging the challenging financial situation inherited from the previous government, Srinivas Reddy emphasised the government's commitment to its promise. "Despite the financial constraints, we have stood by our word to the farmers. We promised to waive farm loans by August 15. But we have fulfilled this promise a month in advance, demonstrating our commitment to our farmers."
Srinvas Reddy declared July 18 as a historic day for Telangana, with the government crediting the waived loan amounts into farmers' accounts by the evening. He drew a parallel with the Congress-led central government's waiver of Rs 72,000 crore in farm loans and interest 16 years ago.
Reiterating the government's dedication to the welfare of farmers, Srinivas Reddy stated, "Agriculture in Telangana should become more profitable. This government will always stand by its farmer brothers to ensure their financial empowerment. We are transforming the agricultural landscape of Telangana, making it a festival rather than a burden. We are committed to alleviating the hardships faced by our farmers."
He highlighted the importance of agriculture for Telangana, where 60% of the population depends on it. "The well-being of our state is intertwined with the well-being of our agricultural sector. This government prioritizes the development of agriculture above all else. Our vision is to build a bright future for agriculture in Telangana. We will continue to support our farmers in the times to come. Our ultimate goal is to empower our farmers, and the farm loan waiver scheme is a significant step towards achieving this goal."