Telangana CM Revanth to complete crop loan waiver on August 15

Official sources said that Revanth Reddy, who is currently on a visit to the US to attract investments for Telangana, issued instructions to officials to make arrangements to hold a public meeting with farmers at Wyra on August 15 to complete the crop loan waiver scheme.

Nearly one lakh farmers from Khammam and surrounding districts will be moblised for this meeting, which will be also attended by ministers and senior Congress leaders.

The Congress government is all set to create a record by implementing Rs 2 lakh crop loan waiver in one go in less than a month before July 18. The Congress government will also create a record of fulfilling the major poll promise within eight months of coming to power by spending nearly Rs 31,000 crore.

Revanth Reddy will release funds to waive crop loans of farmers owing a loan between Rs 1.5 lakh and Rs 2 lakh.

In the first phase on July 18, the Chief Minister released Rs 6,098.93 crore to waive crop loans of 11.5 lakh farmers who owe bank up to Rs 1 lakh each. In the second phase on July 30, the Chief Minister released Rs 6,198 crore to waive loans of 6.4 lakh farmers who owed Rs 1.5 lakh each.

It is not clear how many farmers will be covered and how much funds will be released in the final phase as the final figures are being worked out by officials.

Revanth Reddy on July 30 had said that July and August would be remembered as significant months in the Telangana's history, coinciding with India's Independence Day in August and the relief from mounting debt burdens for Telangana's farmers.

He said that the initiative was a fulfillment of his life's purpose, bringing happiness to the lives of distressed farmers and highlighted that the waiver of Rs 31,000 crore in crop loans, is unprecedented in the country's history.