Addressing the issue, Revanth Reddy emphasized that the decision to waive farm loans up to Rs 2 lakh was made to uphold the government's commitment to supporting the agricultural community.
Digital Desk: In a significant move aimed at providing relief to farmers in Telangana, Chief Minister A Revanth Reddy announced on Friday a loan waiver of up to Rs 2 lakh for farmers in the state, following a cabinet decision.
Addressing the issue, Revanth Reddy emphasized that the decision to waive farm loans up to Rs 2 lakh was made to uphold the government's commitment to supporting the agricultural community. He pointed out that the previous administration had only waived Rs 28,000 crore of farm loans over a decade, underscoring that the new measure is a step towards fulfilling promises made to farmers.
Details regarding the eligibility criteria for the loan waiver scheme are expected to be announced soon. The estimated cost of the loan waiver is approximately Rs 31,000 crore from the state treasury. Comparing it to a previous scheme announced by the BRS government, which cost Rs 28,000 crore, Reddy highlighted the current administration's dedication to prioritizing the welfare of farmers.
To streamline and finalize the implementation of farmers' investment support schemes under 'Rythu Bharosa,' a cabinet sub-committee led by Deputy Chief Minister Mallu Bhatti Vikramarka has been formed after the announcement. This committee will engage in consultations with various political parties and stakeholders, with its findings expected to be presented by July 15.
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