Telangana Government Launches First Phase of Farm Loan Waiver Scheme

Hyderabad, July 20, 2024 – The Telangana government initiated the first phase of its farm loan waiver scheme yesterday, providing substantial financial relief to the farming community. A total of Rs 6,098 crores was credited into the accounts of over 11 lakh farmers across the state, marking a significant step towards alleviating agricultural debt.

Under this phase, loans up to Rs 1 lakh per farmer have been waived off, ensuring that small and marginal farmers receive the much-needed support to sustain their agricultural activities. This move is part of the broader commitment by the state government to uplift the agrarian sector and ensure the welfare of the farmers.

Chief Minister K. Chandrashekar Rao expressed his satisfaction with the successful implementation of the scheme and reiterated his government’s dedication to the farming community. “We are committed to the welfare of our farmers, and this loan waiver is a testament to our promise of supporting them in their times of need,” he stated.

The scheme has been widely welcomed by farmers and agricultural bodies, who see it as a lifeline amid challenging economic conditions. The government plans to continue with subsequent phases of the loan waiver scheme, further easing the financial burden on the farming community in Telangana.