Telangana to complete crop loan waiver in three phases by August: Revanth Reddy

HYDERABAD: Chief Minister A Revanth Reddy announced on Wednesday that the state government would complete the crop loan waiver in three phases by August. The first tranche of funds, aimed at farmers with loans up to Rs 1 lakh, will be released on Thursday evening.

The loan waiver will be implemented in stages, starting with waiving loans up to Rs 1 lakh at 4 PM on Thursday (July 18), directly benefiting farmers with Rs 7,000 crores deposited into their accounts. By the end of the month, loans up to Rs 1.5 lakh will be waived, followed by a complete waiver of loans up to Rs 2 lakhs in August.

Addressing a meeting of Congress MPs, MLAs, MLCs, and party leaders at Praja Bhavan, Revanth Reddy highlighted the commitment made by Rahul Gandhi in the Warangal Declaration on May 6, 2022, to waive Rs 2 lakh in loans for farmers. He contrasted this with the failure of the previous BRS government led by K. Chandrashekar Rao to waive Rs 28,000 crores in farmer loans despite being in power for ten years. He emphasised the seriousness of the government’s commitment by ensuring the entire Rs 2 lakh loan waiver is executed in one installment.

The Chief Minister emphasised that the Congress party had promised during the Lok Sabha election campaign to waive farmers' loans by August 15. He acknowledged that financial experts have expressed concerns about the feasibility of such a large-scale loan waiver, citing potential financial difficulties for the government.

Revanth Reddy reaffirmed the Congress party's dedication to keeping its promises, drawing parallels to Sonia Gandhi's decisive role in granting statehood to Telangana despite the political risks. He stressed that the Gandhi family’s word is their bond and it is the responsibility of the Congress government to honor Rahul Gandhi’s pledge to the farmers.

The Chief Minister called for widespread celebration of the loan waiver initiative. He urged party members to organise programs at the village, mandal, and constituency levels to inform the public about the government's achievements. He also encouraged a national-level discussion on the importance of loan waivers and highlighted that no other state has waived such a large amount in a single installment.

To mark this momentous occasion, he said MPs are expected to mention the implementation of Rahul Gandhi's guarantee in Parliament. Celebrations, including bike rallies and festive events, are planned across the state to acknowledge this significant step towards farmer welfare. He said that in the past seven months, the Congress government has spent Rs 30,000 crores on welfare initiatives, underscoring their commitment to the people of Telangana.