The Telangana Chief Minister announced that the state government would waive off farm loans from today.With this, the Telangana farmers will be debt-free.
The second phase of the farm loan waiving process starts today.The Telangana state government is waiving all crop loans less than Rs 50,000 in banks.
With this, a total of 6,06,811 farmers will get benefited.
The Telangana state government has allocated Rs 2,006 crore for waiving off the farm loans.
Also, this amount will be deposited directly in the bank accounts of the farmers.The state government has decided to complete the entire process by the end of this month.
After hoisting the flag on Independence day, CM KCR said, “From August 16, we will waive off farm loans below Rs 50,000 to 6 lakh farmers in the state.With this, a total of 9 lakh farmers will be debt-free.”
CM KCR said that the debt waived funds would get deposited directly into farmers’ accounts.The farmers will be debt-free, and they are eligible for new debt.
The KCR government has made it clear to Telangana banks that they should again provide loans to the farmers.
