KCR orders to complete farmer loan waiver by September

Chief Minister K. Chandrasekhar Rao has asked the state administration to resume the farmer loan waiver program from tomorrow (August 3). The scheme will be implemented on a fast track and complete the process by September second week.

The Chief Minister said that the government could not complete the farmers waiver scheme due to various reasons mainly the demonetization, Corona pandemic , not release of FRMB funds etc. In addition to the already waived farm loans, it required another Rs 19,000 crore to complete the loan waiver scheme and benefit the farmers.

KCR reiterated that the Telangana farmer's welfare and agriculture development is the main objective of the state government. He made it clear that he will stick to his word for the welfare of farmers.

CM KCR said that due to the slowdown caused by the demonetisation decision taken by the Centre, the financial problems caused by Corona, the factional actions taken towards the Center and Telangana by not releasing the FRBM funds, etc. On Wednesday, CM KCR held a high-level review meeting at Pragati Bhavan on the steps to be taken to restart the farmer loan waiver program in the state's economic situation.

Finance Minister T Harish Rao, Chief Advisor to CM Somesh Kumar, Special Principal Secretary Finance Department Ramakrishna Rao, MA and UD Secretary Arvind Kumar and Agriculture Secretary Raghunandan Rao participated in this review meeting.

The farmers of the state will be benefitted under the Crop Loan Waiver Scheme launched by the Telangana State Government. Through this scheme, if the farmers of the state are unable to return the agricultural loans taken by them, the loan will be waived off by the state government. On waiver of loans taken by farmers due to various circumstances, the beneficiary farmers will be able to live their daily livelihood easily and happily without any financial burden. Under the Telangana Crop Loan Waiver Scheme of the state government, loans up to Rs 1 lakh taken by farmers will be waived. The loan waiver up to Rs 1 lakh taken by the farmers will be completed in a total of five phases.