Telangana govt to waive crop loans of up to Rs one lakh on July 18
Revanth Reddy on Wednesday said his government would waive crop loans of up to Rs one lakh on July 18 as per his government's promise. Speaking at a meeting of ruling Congress MLAs, MLCs and MPs and other leaders here, he said that as part of the state government's Rs two lakh farm loan waiver promise, money would be credited to farmers' accounts in phases, based on the loan amount.
On Thursday, Rs 7,000 crore in total would be credited to the accounts of farmers whose loans of up to Rs one lakh are being waived, the CM said, adding that crop loans of up to Rs 1.5 lakh would be waived by the end of July, and the loan waiver process would be completed in August when loans of up to Rs two lakh are dispensed with.
The Congress government's objective is to free every farmer from the burden of loans, Revanth Reddy said. He said his government is «not tricking ryots» in the name of loan waiver «the way the previous BRS government of K Chandrasekhar Rao did».
He explained that the waiver is being done for loans of up to Rs two lakh as a single amount (in contrast to instalments), he said. In no other state in the country has the loan waiver been rolled out in a single phase, with Rs 31,000 crore being allocated for the purpose, he claimed.
Recalling that Leader of Opposition in the Lok Sabha Rahul Gandhi had promised the Rs two lakh loan waiver at a meeting in Telangana in 2022, Reddy said it is the responsibility of the state's Congress government to fulfil what Gandhi had promised. He alleged that former CM K
