The Telangana Rashtra Samithi (TRS) Government is working towards the farmer loan waiver agenda. In regard to this, Mr. T. Harish Rao, the Finance Minister of Telangana and the State Agriculture Minister Mr. Niranjan Reddy, conducted a meeting with the officials of 42 banks at the BRK Bhavan. Yesterday’s meeting was attended by the Chief Secretary of Telangana Mr. Somesh Kumar, the Finance Ministry Secretary Mr. Ramakrishna Rao, the Agriculture Department Secretary Mr. Raghunandan Rao, the Finance and the Agriculture Ministry officials and the officials of nearly 42 banks.

Conducted on the 6th of August, Friday the meeting discussed the farmers loan waiver scheme. Speaking on the occasion, the Telangana Minister Harish Rao said that the meeting was conducted on the directions of the Telangana Chief Minister Mr. K. Chandrashekar Rao (KCR.) Under the farmers’ loan waiver scheme the State Government would waive loans below Rs. 50,000.

T. Harish Rao said, “Banks should be farmer-friendly and extend loan facility liberally.” He also asked bankers and government officials to coordinate to ensure that the entire loan waiver is credited to the farmers’ accounts and they received a message regarding the same. As soon as the loan waiver amount is credited to the farmers’ accounts, the beneficiary should send an SMS in the name of KCR to the beneficiary’s phone stating that the loan waiver has been granted.

It is to be noted, on the 15th of August, an official announcement and notification regarding the loan waiver would be announced. The Telangana CM KCR would formally announce and would release Rs. 2,006 crores directly to the accounts of six lakh farmers.

After the official announcement, the waived off amount would be released to the farmers between the 16th of August to the 31st of August.

In the first phase, the crop loans up to Rs. 25,000 were waived (in 2020.) The implementation of the crop loan waiver scheme would continue in four phases until 2023. In the third phase, crop loans up to Rs. 75,000 would be waived in 2022 and up to Rs. 1 lakh in 2023.

According to sources, crop loan waiver is one of the major promises of the TRS manifesto during the 2018 Assembly elections in Telangana.

The first phase of the crop loan waiver scheme was implemented in 2020, benefiting close to 2.9 lakh farmers. The loan waiver was for an amount worth Rs. 25,000, for which the KCR Government released a total of Rs. 408 crores.

Stay tuned for further updates.

Mango News Link:

Telegram: https://t.me/mangonewsofficial

Google Play Store: https://bit.ly/2R4cbgN

Apple / iOS Store: https://apple.co/2xEYFJ

Categorized in:

Telangana

Tagged in:

, , , , , , , , , , , , , , , , ,