K M Dayashankar
HYDERABAD, JULY 30, 2024: Chief Minister A Revanth Reddy along with Deputy Chief Minister Mallu Batti Vikramarka and other Ministers launched the second phase of Crop loan waiver scheme 2024 in Hyderabad on Tuesday. The loans ranging from Rs 1 to Rs 1.5 lakhs would be waived in the second phase.
Speaking on the occasion, the Chief Minister reminded that the Congress announced Farmer Declaration on May 6, 2022 in Warangal to bring happiness to the distressed farming community. The previous BRS government failed to waive the farm loans even up to Rs 1 lakhs in four phases during the 60 months rule. The last government waived farm loans hardly Rs 25,000 crore, he pointed out.
Stating that some doubts were raised on the implementation of farm loan waiver amid deep financial crisis the state, he said that the government prepared plans to waive the loans despite facing fund crisis and mobilized required funds for the implementation of the promise made to farmers. About 6.5 lakh farmers will get benefit from the second phase of farm loan waiver scheme and the government released Rs 6,198 crore funds to the banks.
He stated that India’s first Prime Minister Jawaharla Nehru introduced Green revolution with a slogan of “Jai Jawan – Jai Kisan” and his daughter and former Prime Minister Indira Gandhi nationalized banks to provide low interest loans to poor farmers and added that Sonia Gandhi introduced Food Security Act in the country.
The Congress led UPA Government waived of Rs. 72,000 crores of loans and supported the farmers in the country. My government proved its commitment by waiving the farm loans up to Rs 1.5 lakh within a month. Farm loans up to Rs 2 lakhs will be waived by August and free the farmers from debt burden, he stated.
The months of July and August will be remembered as significant months in the history of Telangana. The Telangana State has created history in the country by waiving of the farm loans in a record one month time, he noted and reminded that no state in independent India has so far waived farmers’ loans on such a large scale.
State Finance Minister Mallu Bhatti Vikramarka paid Rs 43,000 crore as interest on the debts incurred by the previous government in six months. My appreciation to the finance minister and his staff for mobilizing 12,000 crores for loan waiver within 12 days, the CM stated.
