CM Revanth Reddy’s Key Comments on Loan Waiver

July 17, 2024 | Telangana

Telangana Chief Minister Revanth Reddy made significant comments regarding the farmer loan waiver during a key meeting of Congress leaders at Praja Bhavan. The Chief Minister outlined a plan to waive farmers’ loans in three phases.

During the meeting, the Chief Minister announced that loans up to Rs. 1 lakh would be waived by 4 PM tomorrow, with the amount being directly deposited into farmers’ accounts by the evening. In the second phase, loans up to Rs. 1.5 lakh will be waived by the end of this month. Finally, in August, loans up to Rs. 2 lakh will be waived.

Chief Minister Reddy highlighted that the Congress government has allocated Rs. 30,000 crores for welfare initiatives within the past seven months. He emphasized that waiving loans up to Rs. 2 lakh is aimed at maintaining the self-respect of farmers, noting that these waivers will be implemented in lump sums.

The announcement underscores the government’s commitment to addressing the financial challenges faced by farmers in Telangana, with the phased approach providing immediate and substantial relief.