Telangana Government implemented the second phase of farm loan waiver successfully on Tuesday. At a specially conducted event in Assembly, CM Revanth Reddy disbursed the farm loan waiver cheque to farmers, crediting money into the accounts of farmers who have loans upto the tune of Rs 1.5 lakh.
Telangana Government allocated Rs 6,190 Cr towards second phase of farm loan waiver. About 6.40 lakh farmers will be benefited in the second phase.
“KCR Government has let down farmers on farm loan waiver promise in the past. By implementing farm loan waiver in four installments, the money credited into farmers account was deducted by bankers towards interest, leaving the principal loan amount as it is. It benefited farmers in no way,” said Deputy CM and Finance Minister Mallu Bhatti Vikramarka.
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“Unlike BRS Govt, Congress Government has implemented farm loan waiver in one go. As a result, farmers have been relieved of debt burden and given a new lease of life. As promised by Rahul Gandhi in Warangal Declaration, Congress Government has been successfully fulfilling farm loan waiver promise, braving all odds” further said Bhatti Vikramarka.
Revanth Reddy Government has pulled off a herculean feat by successfully fulfilling farm loan waiver promise at a time, when Telangana finances are badly battered.
During the first phase, farm loans up to Rs 1 lakh were waived off successfully on July 18. Loans up to the tune of Rs 2 lakh will be waived off by August 15th.
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