HYDERABAD: Asserting that the government’s policy was to ensure no farmer faces financial hardship, Chief Minister A Revanth Reddy on Tuesday launched the second phase of the crop loan waiver from the Assembly premises.
In this phase, the state government released Rs 6,190.02 crore to waive loans up to Rs 1.5 lakh, benefiting 5.45 lakh farmer families holding 6.41 lakh loan accounts.
Recalling that India achieved Independence in August, the chief minister said that farmers in Telangana gained freedom from debt in the same month. He said that July and August will be remembered as important months in the country’s history due to the waiver of farm loans up to Rs 2 lakh.
Revanth reiterated the government’s commitment to farmer welfare, stating that Rs 12,000 crore in loans were waived in just 12 days. “The total allocation of Rs 31,000 crore for loan waiver has set a new record in the country’s history,” he said.
“There are no elections and no political interests in the waiver of farm loans. The loans are being waived only to safeguard the interests of distressed farmers. My life’s purpose is fulfilled by seeing the happiness in the lives of the farmers,” the chief minister said.
‘Ryots struggle, but corporates evade Rs 14L cr loan repayment’
The chief minister said that some corporate entities had evaded loan repayments by declaring bankruptcy while farmers struggle due to poor yields and low prices. “Some companies evaded repayment of Rs 14 lakh crore in loans over the past decade,” Revanth said.
The chief minister accused the previous BRS government of failing to effectively implement farm loan waiver. He said that the previous BRS government promised to waive up to Rs 1 lakh in loans but only released Rs 12,000 crore out of the needed Rs 19,000 crore, leaving Rs 7,000 crore in loans unpaid. Revanth also accused the previous government of leaving the state with huge debts, while the current Congress government was working to alleviate this burden.
Deputy Chief Minister Mallu Bhatti Vikramarka, Speaker Gaddam Prasad Kumar, Council Chairman Gutha Sukhender Reddy, Agriculture Minister Thummala Nageswara Rao, other ministers and MLAs too distributed cheques to farmers.
State’s largesse
With Rs 6,190 cr on Tuesday, the govt has waived Rs 12,000 crore in loans in 12 days.