Farmers Got Freedom From Debt on This Independence Day, Loan Waiver of 9 Lakh Farmers, This is Only State To Waive Debt
Yuva Patrkaar: On the occasion of Independence Day, the Chief Minister of Telangana has given a big gift to the farmers of the state. Telangana CM and Bharat Rashtra Samithi chief Chandrasekhar Rao has announced loan waiver of up to Rs 1 lakh of 9 lakh farmers. This bold step has aimed to strengthen the economic condition of the farmers of the state.
Features of loan waiver
After assuming power in 2018, the Telangana government promised to waive loans of farmers with crop loans of less than Rs 1 lakh by 11 December 2018.
Keeping his promise, CM Chandrasekhar Rao has implemented the loan waiver scheme for farmers.
The Finance Department has released an amount of Rs 5,809.78 crore to 9,02,843 farmers. Which will be deposited in the bank accounts of the farmers.
Fresh orders were issued for settlement of loan amount up to Rs.99,999. With the latest decision, the government has paid Rs 7,753 crore, benefiting a total of 16,66,899 farmers. State minister and BRS working president K.T. Rama Rao called it another boon for the farmers of Telangana under the benevolent rule of CM KCR. He tweeted that the farmer-friendly Telangana government has waived off crop loans worth Rs 5,809 crore for less than Rs 99,999 in a single day. He said, proud that Telangana is the only Indian state to waive farm loans twice on such a large scale.
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Benefits of farmers
Those farmers who have taken loan of less than one lakh rupees will get freedom from debt without any burden.
The money will be immediately deposited in the banks and they will be taken to the banks under loan waiver.
This step will encourage the economic development of the farmers of Telangana and give them an opportunity to move towards a secure future.
Posted Date: August 16, 2023
Publish Date: August 16, 2023
Posted By Ravi Kumar