Telangana government decides to waive off farm loans

Hyderabad: Telangana agriculture minister Pocharam Srinivas Reddy on Saturday said all the farm loans of below Rs 1lakh would be waived off and the guidelines for availing the scheme would be issued in a couple of days. He said 32 lakh farmers would be benefited out of this scheme and will impose a burden of over Rs 20,000 crore on the state exchequer.

Also read: Telangana CM K Chandrasekhar Rao: Rs 1 lakh crop loan waiver stands

Speaking to reporters here on Saturday, Mr Reddy said, "Bankers are expected to come out with a final report on loan waiver in a day or two. The Cabinet will discuss on it and make an official announcement over farm loan waiver. However, the decision on waiving off all the loans below Rs 1 lakh has already been taken by the government. We urge farmers not to worry on this issue as decision has been already taken on
loan waiver."

Also read: Telangana government may set conditions on farmer loan waivers

He added that Chief Minister K. Chandrasekhar Rao is keen on extending the benefit to all the farmers though the party had only promised about waiving off crop loans in it’s election manifesto.