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

Earlier this yr, Congress MP Rahul Gandhi had promised that farmers' loans can be waived if his celebration got here to energy on the Centre. The mortgage waiver was promised through the meeting elections.

In the course of the meeting elections, the Congress celebration had promised mortgage waiver for farmers. Telangana Chief Minister Revanth Reddy on Friday introduced a mortgage waiver of Rs 2 lakh for the farmers of the state. He mentioned, "The Cabinet decided to waive agricultural loans up to Rs 2 lakh. The previous government had waived only Rs 28,000 crore of agricultural loans in its 10-year rule. The previous government had fixed December 11, 2018 as the cut-off for availing the agricultural loan waiver scheme."

Chief Minister Revanth Reddy mentioned that the total particulars of the mortgage waiver together with its phrases and situations will probably be introduced later. He mentioned that the mortgage waiver will price the state exchequer about Rs 31,000 crore. Earlier, the BRS authorities had additionally introduced an identical scheme. This price the state exchequer Rs 28,000 crore.

Reddy mentioned within the assertion, "The government has decided to waive off 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."

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

Allow us to inform you that earlier this yr, Congress MP Rahul Gandhi had promised that if his celebration involves energy on the Centre, farmers' loans will probably be waived off.

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