The Telangana government has fulfilled a major election promise by announcing a substantial farm loan waiver totaling Rs 31,000 crores. Of this amount, Rs 25,000 crores was allocated in the state budget specifically for the loan waiver program. The initiative has been carried out in three phases, bringing much-needed relief to farmers across the state.
In the first two phases, a combined total of Rs 12,224.98 crores was distributed among the beneficiaries. In the third phase, an additional Rs 5,644.24 crores was disbursed, completing the waiver process for loans ranging from one and a half to two lakhs. The overall initiative has seen Rs 17,869.22 crores waived off in these three phases, benefiting a total of 22,22,067 farmers.
On August 15, during a public meeting in Vaira, Khammam district, Chief Minister Revanth Reddy, along with Deputy Chief Minister Bhatti Vikramarka and Agriculture Minister Tummala Nageswara Rao, officially released the funds by pressing a symbolic button. This action resulted in the direct transfer of Rs 18,000 crores into the accounts of the farmers. This substantial financial relief is part of the Congress party’s commitment made during the elections to waive crop loans up to Rs 2 lakhs for farmers.
The loan waiver initiative commenced on July 18. In the first installment, Rs 6,000 crores were credited to the accounts of 11,34,412 farmers, providing immediate relief to many households. The second installment saw an additional Rs 6,900 crores distributed among 6,40,823 farmers. By the end of the second installment, a total of 17,75,235 farmers had benefited from the Rs 12,224 crores deposited in their accounts.
The third installment, announced today, focused on waiving loans between one and a half to two lakhs, ensuring that even larger loan burdens were alleviated. This comprehensive approach by the Telangana government aims to support the agricultural community, boost productivity, and promote financial stability among farmers. The program underscores the state’s commitment to the welfare of its farming community, providing a vital safety net for those in need.
