The Telangana authorities on Thursday launched the primary part of the farm mortgage waiver scheme underneath which Rs 6,098 crore has been deposited into the accounts of over 1.1 million farmers, of which loans as much as Rs 1 lakh will likely be waived.
Through the Telangana Meeting elections final 12 months, Congress chief Rahul Gandhi promised to waive loans of Rs 2 lakh for farmers if the celebration was elected to energy.
Chief Minister Revanth Reddy, Deputy Chief Minister Mallu Bhatti Vikramarka and Minister of State Thummala Nageshwar Rao participated “Risu Nesham” Secretariat’s program and interacted with farmers concerning mortgage waivers earlier than disbursing funds.
Reddy stated the mortgage waiver scheme ought to be celebrated as a pageant. The rollout of the mortgage forgiveness program will likely be accomplished in two extra phases.
He claimed that the earlier BRS authorities didn’t correctly fulfill its promise of waiving farm loans regardless of being in energy for 2 phrases.
The chief minister stated the Congress authorities was paying round Rs 7,000 crore in curiosity each month on the Rs 700-crore debt incurred throughout the BRS regime.
Reddy stated farm mortgage waivers price a complete of Rs 31,000 crore will profit almost 5 million farmers in Telangana. By the tip of this month, the state authorities will disburse funds to the accounts of farmers with mortgage quantities as much as Rs 1.5 lakh.
In August, the state authorities will launch funds to the accounts of farmers with loans of as much as Rs 2 lakh.
Reddy additionally famous that Rs 29,000 crore has been spent on welfare tasks up to now seven months since his celebration got here to energy in December final 12 months.
“(Former Prime Minister) Manmohan Singh Ji carried out mortgage waiver in 2009, which confirmed that the Congress delivered on its promise. There was speak of the Gujarat mannequin. Right this moment, the Telangana mannequin would be the mannequin for tens of hundreds of thousands of farmers within the nation instance and celebration,” he stated.
He additional stated: “Telangana will make a one-time disbursement of Rs 2 lakh (in contrast to installment funds) for farm loans inside 8 months of coming to energy.”
(Inputs from PTI)
