Telangana Chief Minister A Revanth Reddy made a significant announcement on Friday, revealing a plan to waive loans amounting to Rs two lakh for farmers across the state.
In a detailed statement, Reddy highlighted the decision taken by the cabinet to alleviate farm loans up to Rs 2 lakh, contrasting it with the previous government's tenure, which managed to waive only Rs 28,000 crore over a decade. He underscored that the earlier scheme had a cutoff date of December 11, 2018, limiting its reach.
Reddy assured that specific details regarding the loan waiver, including eligibility criteria, would be disclosed later. He estimated the financial implication on the state treasury to be approximately Rs 31,000 crore.
Emphasizing the government's commitment to agricultural welfare, Reddy criticized the former administration for not fulfilling its promises to farmers over the course of a decade. He proudly stated that his government, within eight months of assuming power, was delivering on its commitment to the farming community.
Following the cabinet meeting, Reddy additionally announced the formation of a cabinet sub-committee, chaired by Deputy Chief Minister Mallu Bhatti Vikramarka. This committee's primary task is to finalize the operational details of the 'Rythu Bharosa' farmers' investment support schemes. Reddy outlined that the sub-committee would engage with political parties and stakeholders, aiming to submit its comprehensive report by July 15.
Earlier this year, Congress MP Rahul Gandhi had also pledged farm loan waivers if his party assumed power at the Centre, signalling ongoing political interest in agricultural support initiatives.
