Great news for farmers: Farmers’ loan up to Rs 2 lakh waived, this state government made a big announcement

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Earlier this yr, Congress MP Rahul Gandhi had promised that farmers’ loans can be waived off if his occasion got here to energy on the Centre. Loan waiver was promised throughout the meeting elections.

During the meeting elections, the Congress occasion had promised loan waiver for farmers. Telangana Chief Minister Revanth Reddy on Friday introduced a loan waiver of Rs 2 lakh for farmers within the state. He mentioned, “The cupboard determined to waive agricultural loans up to Rs 2 lakh. The earlier government waived solely Rs 28,000 crore price of agricultural loans in its 10-year rule. The earlier government had set a cut-off of December 11, 2018 for availing the farm loan waiver scheme.”

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Chief Minister Revanth Reddy mentioned that the complete particulars of the loan waiver together with its phrases and situations will likely be introduced later. He mentioned that the loan waiver will value the state exchequer about Rs 31,000 crore. Earlier, the earlier BRS government had additionally introduced a related scheme. The state exchequer had to bear a burden of Rs 28,000 crore.

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“The government has determined to waive loans for the welfare of farmers. The earlier government didn’t fulfil its promise to farmers for ten years. Our government is fulfilling the promise made to farmers inside eight months of coming to energy within the state,” Reddy mentioned within the assertion.

After the assembly, Reddy additionally introduced the formation of a Cabinet sub-committee headed by Deputy Chief Minister Mallu Bhatti Vikramarka to finalise the modalities of ‘Raithu Bharosa’, the funding help schemes for farmers. The Cabinet sub-committee will maintain discussions with political events and different stakeholders and submit its report by July 15, he mentioned within the assertion.

Let us let you know that earlier this yr, Congress MP Rahul Gandhi had promised that if his occasion comes to energy on the Centre, farmers’ loans will likely be waived off.

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