Telangana Cabinet approves waiver of crop loans up to Rs 2 lakh in single instalment

HYDERABAD: The Telangana Cabinet on Friday decided to waive off crop loans up to Rs 2 lakh in a single instalment.

The cabinet meeting, held at Dr BR Ambedkar Telangana Secretariat, under the chairmanship of Chief Minister Revanth Reddy, took several significant decisions regarding the agricultural sector.

Addressing a press conference later, Chief Minister Revanth said that, in line with the Warangal Farmer's Declaration, the government will waive crop loans up to Rs. 2 lakh taken by farmers over the last five years. This waiver will be executed in a single instalment, aiming to alleviate the financial burden on farmers.

The previous administration had waived loans twice, amounting to Rs. 21,000 crores. The current BRS government has set the cutoff date for the waiver as December 11, 2018. Consequently, crop loans taken between December 12, 2018, and December 9, 2023, will be eligible for the waiver.

Revanth Reddy stated that approximately Rs. 31,000 crores will be required to cover the loan waivers for the five years from 2018 to 2023.

In addition to the loan waiver, the CM announced the formation of a Cabinet Sub-Committee to ensure the transparent implementation of the Rythu Bharosa scheme. The committee will be chaired by Finance Minister Bhatti Vikramarka, with Agriculture Minister Tummala Nageswara Rao, IT Minister Sridhar Babu, and Revenue Minister Ponguleti Srinivasu Reddy serving as members.

The CM confirmed that the matter will be discussed in detail at the next assembly meeting, and a report will be submitted before July 15.