Telangana government waives Rs 31,000 crore in crop loans

The state Cabinet has formed a sub-committee to finalize the guidelines for the Rythu Bharosa scheme, with a report due by July 15.
CM Revanth Reddy and Dy CM Mallu Bhatti Vikramarka during a press meet in the Secretariat.
CM Revanth Reddy and Dy CM Mallu Bhatti Vikramarka during a press meet in the Secretariat.Photo | Express

HYDERABAD : The state Cabinet, which met here on Friday, decided to waive crop loans to the tune of Rs 31,000 crore at one ago. The detailed orders on guidelines for the crop loan waiver will be issued shortly.

Briefing to the media later, Chief Minister A Revanth Reddy said that by waiving the crop loans, the Congress government will be implementing one of the six guarantees that was promised by the party in the Warangal Declaration.

Revanth said that all loans up to Rs 2 lakh per farmer taken between December 12, 2018 and December 9, 2023 would be waived.

The chief minister noted while the BRS regime waived crop loans twice, the total amount forgone during its two terms was Rs 28,000 crore.

However, the Congress government was waiving crop loans worth Rs 31,000 crore at one go, he pointed out.

Unlike the BRS regime that failed to keep its assurances given to farmers, the Congress government was implementing its promises, Revanth added.

The chief minister dismissed rumours in a section of the media that Rythu Bharosa amounts would be given to lands having hillocks and real estate lands, and to rich farmers.

Revanth said that during Friday’s meeting, a Cabinet sub-committee was constituted to discuss and finalise the guidelines for implementing the Rythu Bharosa scheme.

The Cabinet sub-committee would submit its report by July 15 and the same would be discussed in the State Legislative Assembly, the chief minister said. Later, detailed guidelines would be issued for implementation of the Rythu Bharosa scheme, Revanth noted.

CROP LOANS

 All crop loans taken between Dec 12, 2018 & Dec 9, 2023 to be waived.

CM has already assured farmers that the state government would waive crop loans up to Rs 2 lakh per farmer by Aug 15.

 A GO will be issued shortly for guidelines on implementation of the waiver.

Rs 31,000 cr Burden on exchequer for waiver.

Spokespersons for Cabinet

Expressing displeasure over misleading news in a section of the media, the Cabinet meeting also appointed Ministers D Sridhar Babu and Ponguleti Srinivasa Reddy as spokespersons for the Cabinet. The CM requested journalists to talk to these two ministers and file factual reports.

RYTHU BHAROSA

  • Cabinet sub-committee on Rythu Bharosa to be constituted under the chairmanship of Deputy CM Mallu Bhatti Vikramarka. Ministers D Sridhar Babu and Ponguleti Srinivasa Reddy will be members of the Committee.

  • Cabinet sub-committee to submit report by July 15 & present draft guidelines.

  • Guidelines to be issued for Rythu Bharosa after debate in Assembly.

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