The Telangana government recently initiated the first phase of its ambitious farm loan waiver scheme, marking a significant step in fulfilling an electoral promise. Under this initiative, Rs 6,098 crore has been disbursed into the bank accounts of over 11 lakh farmers, with loans up to Rs 1 lakh being waived off.
The 'Rythu Nestham' program, held at the Secretariat, saw the participation of Chief Minister Revanth Reddy, Deputy Chief Minister Mallu Bhatti Vikramarka, and state minister Thummala Nageshwar Rao. They interacted directly with farmers before releasing the funds, emphasizing the government's commitment to agricultural welfare.
Chief Minister Reddy described the loan waiver scheme as a festival for farmers and announced its rollout in two subsequent phases. Criticizing the previous administration, he claimed that despite being in power for two terms, the BRS government failed to adequately implement its promised farm loan waivers.
The total scheme, valued at Rs 31,000 crore, aims to benefit nearly 50 lakh farmers across Telangana. Reddy further detailed the phased approach, explaining that by the end of the month, funds would be disbursed to farmers with loans up to Rs 1.5 lakh, followed by those with loans up to Rs 2 lakh in August.
Highlighting the government's broader welfare initiatives, Reddy noted that approximately Rs 29,000 crore had been allocated for various welfare programs within the first seven months of his party's tenure, which began in December the previous year.
In a political context, Reddy referenced former Prime Minister Manmohan Singh's successful implementation of a similar loan waiver in 2009, asserting that the Congress party delivers on its promises. He contrasted this with what he termed as mere talk of models like the Gujarat model, suggesting that the Telangana model would set a precedent for agricultural support nationwide.
Closing his remarks, Reddy underlined the efficiency of Telangana's approach, emphasizing that the state government's swift implementation of the Rs 2 lakh farm loan waiver within eight months of assuming office sets it apart from previous practices that involved installment payments.
