CM Revanth Reddy Focuses on Farmer Loan Waiver

The Telangana government is actively progressing with the farm loan waiver initiative, aiming to liberate farmers from debt by August 15, as per Chief Minister Revanth Reddy’s directive. Reddy has committed to waiving loans up to Rs 2 lakh per farmer, requiring an estimated Rs 35,000 crore from the state’s finance ministry. Efforts are underway to expedite fund procurement, with instructions given to senior officials to explore all viable avenues. Deputy Chief Minister and Finance Minister Bhatti Vikramarka is overseeing the process, emphasizing that farmers should see their passbooks reflect zero debt to prevent bank harassment.

The government is engaging with bankers to strategize payment of Rs 35,000 crore over five years, aiming for Rs 7,000 crore annually. Unlike previous staggered approaches, this simultaneous waiver seeks to genuinely alleviate farmers’ financial burdens, addressing past issues where interest accrued after each installment under the previous administration’s phased waiver.