In a significant relief for farmers, Telangana Chief Minister A. Revanth Reddy announced on Wednesday that the state government will waive crop loans up to one lakh rupees starting July 18.
This move is part of the government’s promise to alleviate farmers’ debt burdens.
Meeting with Congress Leaders
During a meeting with Congress legislators, MLCs, MPs, and other leaders, Reddy elaborated on the plan. He said the state government will fulfill its commitment to waive agricultural loans worth up to two lakh rupees in phases.
The money will be deposited into farmers’ accounts based on the amount of their outstanding loans.
First Phase of Loan Waivers
In the first phase of this initiative, a total of seven thousand crore rupees will be deposited into the accounts of farmers whose loans are being waived up to one lakh rupees.
This step aims to provide immediate financial relief to the farming community.
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