Telangana government pledged to forgo agricultural loan, says KTR

Hyderabad: The Minister of Industry and Labor Chairman of the TRS, KT Rama Rao, said the TRS government had pledged to keep its electoral promises and had waived crop loans up to Rs 50,000 for more than nine lakh farmers in the state. He said the government’s commitment to the welfare of farmers translates into its determination to free farmers from their debts.

In a series of tweets, the minister said that the TRS had pledged to forgo agricultural loans up to Rs 1 lakh in 2014. Redeeming the pledge, loans of 35.19 lakhs to farmers amounting to Rs 16 144.10 crore has been canceled so far. A similar pledge was made to farmers again in 2018. “Again, even in the midst of the pandemic, the Telangana government has kept its promise and has helped over 9 lakhs of farmers by forgoing loans until Rs 50,000. Congratulations to Chief Minister K Chandrashekhar Rao garu and Minister of Agriculture S Niranjan Reddy garu, ”he said.

Following its promise to forgo loans up to Rs one lakh in the 2018 Assembly elections, the TRS government waived crop loans up to Rs 25,000 as the first installment benefiting farmers from 2, 96 lakhs for an amount of Rs 408.39 crore. In the second phase launched earlier this month, the government is forgoing loans up to Rs 50,000, spending Rs 2,005.85 crore and benefiting around 6.06 lakh farmers. In the past five days since the launch of the second crop loan waiver tranche, around Rs 172.86 crore has been deposited into the bank accounts of around 63,074 farmers.

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