HYDERABAD: The Telangana government waived crop loans up to Rs 50,000 benefitting over six lakh farmers across the state. The amount will be released to farmers between August 15 and 31.
The state Cabinet meeting chaired by Chief Minister K Chandrashekar Rao at Pragathi Bhavan here on Sunday gave its nod to this effect as part of implementation of second phase of Rs 1 lakh crop loan waiver scheme.
In the first phase, crop loans up to Rs 25,000 were waived last year. In the third phase, crop loans up to Rs 75,000 will be waived in 2022 and up to Rs 1 lakh in 2023.
It may be recalled that during the run up to the 2018 Assembly elections, the Chief Minister promised to waive crop loans up to Rs 1 lakh taken by about 36.8 lakh farmers across the state. This was also incorporated in the TRS manifesto.
Keeping his promise after retaining power for the second term in December 2018, the Chief Minister waived crop loans of about 2.96 lakh farmers in the first phase in 2020 who took loans up to Rs 25,000 by spending Rs 408 crore.
Now crop loans up to Rs 50,000 taken by over six lakh farmers will be waived by spending nearly Rs 4,900 crore. The TRS government also waived crop loans up to Rs 1 lakh during its first term between 2014 and 2018 by spending over Rs 25,000 crore.
