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Farmers Loan Waiver: Telangana government approves Rs 31,000 crore farm loan waiver

Farmers Loan Waiver: The Congress Government led by CM Revanth Reddy in Telangana has given a big gift to the farmers. The government on Friday announced a loan waiver of Rs 2 lakh for the farmers of the state. CM Revanth Reddy said his cabinet decided to waive off farm loans up to Rs 2 lakh. He said that complete details of the loan waiver, including its conditions, will be announced later.

By: Ruchi Upadhyay  Pardaphash Group
Updated:
gnews
Farmers Loan Waiver: Telangana government approves Rs 31,000 crore farm loan waiver

Farmers Loan Waiver: In Telangana, the Congress government led by CM Revanth Reddy has given a big gift to the farmers. The government on Friday announced a loan waiver of Rs 2 lakh for the farmers of the state. CM Revanth Reddy said his cabinet decided to waive off farm loans up to Rs 2 lakh. He said that complete details of the loan waiver, including its conditions, will be announced later.

Taking aim at the former BRS government, CM Revanth Reddy said that the previous government had waived off farm loans worth only Rs 28,000 crore during its 10-year rule. The previous government had fixed the cut off for availing the benefits of the farm loan waiver scheme on December 11, 2018. He said that the previous government did not fulfill its promise to the farmers for ten years. His government is fulfilling the promises made to the farmers within eight months of coming to power.

CM Reddy further said that the government has decided to waive off loans for the welfare of farmers. The loan waiver will put a burden of about Rs 31,000 crore on the state exchequer. Let us tell you that during the Telangana Assembly elections, the Congress Party had promised loan waiver of farmers. At the same time, before the Lok Sabha elections, Congress MP Rahul Gandhi had promised that if his party comes to power at the Centre, then the loans of farmers will be waived off.

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