HYDERABAD: As promised by Chief Minister A Revanth Reddy, the government is mulling to complete the waiving of crop loans up to Rs 2 lakh by August 15.
The government is set to release third tranche, which is also last phase, of funds for crop loan waiver scheme on the Independence Day. Agriculture and Finance departments are making arrangements, including mobilising funds and collecting details of loan accounts of farmers, for the purpose.
The CM is likely to launch the third phase of the scheme at Wyra in Khammam district, where he will also inaugurate the Rajiv Canal under Sita Rama Lift Irrigation Project (SRLIP).
On July 15, the government issued modalities for loan waiver scheme implementation. On July 18, the first phase of the scheme was launched ad released Rs 6034.97 crore to waive loans up to Rs 1 lakh, benefiting 11,14,412 farmers.
On July 30, the second phase was implemented with the government releasing Rs 6190.01 crore to waive loans between Rs 1 lakh to Rs 1.5 lakh, benefitting 6,40,823 farmers.