Telangana Govt Transfers Rs 6,000 cr into 11.5L Farmers’ Bank A/Cs

Hyderabad: In a historic move, Chief Minister A. Revanth Reddy on Thursday launched the landmark Rs 31,000-crore scheme to waive crop loans of farmers up to Rs 2 lakh each, setting a new precedent.

Interacting with farmers through a video-conference from the Secretariat, the Chief Minister, in a highly emotional address, described July 18 as an "unforgettable day" in his 16-year political journey, as he had fulfilled the promise made to farmers by Congress leaders Sonia and Rahul Gandhi during the Assembly election campaign.

Revanth Reddy transferred Rs 6,000 crore at 4 pm on Thursday to the bank accounts of 11.5 lakh farmers who had crop loans of up to Rs 1 lakh each. The second phase later this month will cover farmers with loans up to Rs 1.5 lakh each, followed by the release of funds for farmers with loans up to Rs 2 lakh each in August.

He also distributed loan waiver cheques to 10 farmers from various districts, symbolising the start of a new chapter for Telangana's agricultural community.

Speaking at the launch event attended by Deputy Chief Minister Mallu Bhatti Vikramarka, agriculture minister Tummala Nageswara Rao and senior officials, Revanth Reddy reminded people of Rahul Gandhi releasing the Farmers' Declaration in Warangal on May 6, 2002, and Sonia Gandhi's Six Guarantees, including the loan waiver, promised on September 17, 2023, at Tukkuguda on the city outskirts.

Revanth Reddy said that the Rs 31,000-crore loan waiver was a testament to the Congress' commitment to its promises. "We have proven that when the Congress gives its word, it is 'Shila Shasana' (inscribed on stone),” Revanth Reddy asserted.

He paid tribute to Sonia Gandhi, recalling her role in the formation of Telangana in 2004, despite political risks in Andhra Pradesh. He announced his plans to visit Delhi with Deputy Chief Minister Bhatti Vikramarka on Saturday to personally thank Sonia Gandhi and Rahul Gandhi for their unwavering support.

The Chief Minister said he would hold a rally with five lakh farmers in Warangal, venue of Rahul Gandhi’s Farmers' Declaration, and invite the Congress leder to the event.

Revanth Reddy lashed out at former chief minister K. Chandrashekar Rao, accusing him of cheating farmers on crop loan waiver twice during 2014 and 2018 Assembly polls. He said Rao came to power twice promising to waive crop loans, but failed to fulfil the promise.

The Chief Minister said Rao waived Rs 12,000 crore loans out of total Rs 16,000 crore loans in his first term and Rs 9,000 crore out of total Rs 12,000 in his second term.

"The crop loans that KCR waived in his nearly 10 years did not exceed Rs 20,000 crore. He became Chief Minister when Telangana was a revenue-surplus state. Despite this, he could not fulfil the crop loan waiver promise. In the last 10 years, KCR pushed Telangana into a debt burden of Rs 7 lakh crore. For this, we are paying Rs 7,000 crore per month as interest. Despite such a grave financial condition, we have arranged Rs 31,000 crore to waive crop loans of farmers up to Rs 2 lakh each in one go," Revanth Reddy added.

Dispelling misconceptions about the criteria for loan waiver, Revanth Reddy clarified that a ration card is not necessary for the loan waiver, and the passbook was the primary document. He urged farmers to disregard misleading information and seek assistance from bank officials if needed. He commended the cooperation of bank officials in resolving issues related to the loan waiver.

Revanth Reddy praised agriculture minister Nageswara Rao, a farmer himself, for his understanding of agricultural issues. The CM also lavished praise on Deputy Chief Minister Mallu Bhatti Vikramarka's dedication in mobilising funds for the loan waiver, as well as his extensive padayatra as CLP leader to understand farmers' problem.