In July 18th, the government of Telangana state will be waiving crop loan up to ₹1 lakh.
For that reason, it was decided that the aforementioned amounts would be deposited in farmers’ loan accounts at any time but before the evening hours of Tuesday (17th of July). On the day after this happens, other leaders including Ministers and Members of Legislative Councils or Assembly will attend celebratory functions held for those farmers who received forgiveness on their loans. They are organized by Rytu Vedikas at dusk.
On July 18th however, what had been pledged to happen is that all outstanding debts not exceeding Rupees one hundred thousand would have been paid in full. In addition, it was announced that starting from Thursday, there would be a rollout of this process across the state with an aim being to waive off more than two lakh rupees worth loans before August 15th.
This was announced by Chief Minister A. Revanth Reddy during a conference for collectors held on Tuesday in Hyderabad. The new rule being developed by the government is aimed at ensuring funds allocated to debt redemption only go to intended beneficiaries and no amount even cents goes out of its way for any purpose else however noble it may seem. However strict instructions have been issued to banks so as they do not divert funds meant for crop loan waiver program into their own accounts; necessary action will follow against any banker found culpable.
Moreover, he added that his government would carry out a waiver worth Rs 2 Lakhs per farmer based on such particulars as account verification as contained in pattadar which gives properties’ bond holders’ information. Family details concerning these claims shall henceforth emanate from food security cards data base.
