Earlier this year, Congress MP Rahul Gandhi had promised that farmers’ loans would be waived off if his party came to power at the Centre. Loan waiver was promised during the assembly elections.
During the assembly elections, the Congress party had promised loan waiver for farmers. Telangana Chief Minister Revanth Reddy on Friday announced a loan waiver of Rs 2 lakh for farmers in the state. He said, “The cabinet decided to waive agricultural loans up to Rs 2 lakh. The previous government waived only Rs 28,000 crore worth of agricultural loans in its 10-year rule. The previous government had set a cut-off of December 11, 2018 for availing the farm loan waiver scheme.”
Chief Minister Revanth Reddy said that the full details of the loan waiver including its terms and conditions will be announced later. He said that the loan waiver will cost the state exchequer about Rs 31,000 crore. Earlier, the previous BRS government had also announced a similar scheme. The state exchequer had to bear a burden of Rs 28,000 crore.
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“The government has decided to waive loans for the welfare of farmers. The previous government did not fulfil its promise to farmers for ten years. Our government is fulfilling the promise made to farmers within eight months of coming to power in the state,” Reddy said in the statement.
After the meeting, Reddy also announced the formation of a Cabinet sub-committee headed by Deputy Chief Minister Mallu Bhatti Vikramarka to finalise the modalities of ‘Raithu Bharosa’, the investment support schemes for farmers. The Cabinet sub-committee will hold discussions with political parties and other stakeholders and submit its report by July 15, he said in the statement.
Let us tell you that earlier this year, Congress MP Rahul Gandhi had promised that if his party comes to power at the Centre, farmers’ loans will be waived off.
