On the 28th of October, the Telangana Government waived off loans on crops.
According to the source, the Telangana Government waived off Rs. 27,718 crores rupees on crop loans.
Telangana has become the only State in India to waive off crop loans amounting to Rs 27,718 crore, largest in India.
In addition, the Telangana Rashtra Samithi (TRS) also decided to release Rs. 28,000 crores under the Rythu Bandhu scheme, benefiting farmers.
In an informal interaction with the mediapersons at Telangana Bhavan, K.T. Rama Rao, the Working President of the TRS said while the opposition parties continue to accuse the State Government on loan waiver implementation for political mileage, the Reserve Bank of India (RBI) in its report clearly stated that Telangana Government had waived off highest number of crop loans in the country.
He said, the State Government also decided to implement Rythu Bima, input subsidy, and free power supply among others to the farmers.
Mr. Rao said, “The RBI report also stated that about 95 per cent of the beneficiaries of crop loan waiver scheme were marginal and small farmers. Despite being an youngest State, Telangana has been progressive and has emerged as a frontrunner among top performing States in the country.”
The Minister stated that despite the Novel Coronavirus or COVID-19 pandemic, the State Government had released Rs. 7,200 crores for Rythu Bandhu, Rs. 1,142 crores for Rythu Bima and another Rs. 14,000 crores towards loan waiver.
In total, a whopping amount of Rs 56,000 crore was disbursed into the accounts of beneficiaries in 2020.
Stay tuned for further updates.