Telangana Cabinet Clears Crop Loan Waiver

Telangana Chief Minister K Chandrasekhar Rao on Sunday decided to waive off crop loans up to Rs. 50,000 and this decision is going to benefit nearly 6 lakh farmers in the state. The amount will be deposited into the bank accounts of the beneficiary between August 15 and 31. The decision came after the State Finance Department presented a detailed report to the Cabinet on the implementation of the crop loan waiver scheme and its current status.

The state government was able to waive off loans up to Rs 25,000 taken by the farmers in the past due to the Covid-induced financial crisis over the last two years. The government already announced that it is going to waive off the loans of farmers who have taken a crop loan of up to Rs 1 lakh between April 1, 2014, and December 11, 2018.

The status of farm operations, availability of irrigation water, fertilizers, and other topics were also discussed during the Cabinet meeting. Telangana is becoming the largest cotton producer in the country, so the officials have been instructed to take steps to further increase cotton crop cultivation.