Telangana CM releases over Rs 6,000 crore into farmers' accounts under loan waiver scheme

Hyderabad (Telangana) [India], July 18 : Telangana Chief Minister Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu released over Rs 6,000 crore into the accounts of farmers under the loan waiver scheme 2024 from the Secretariat here on Thursday.
Speaking on the occasion, Bhatti Vikramarka said that today is a big festival day for farmers in Telangana. It is a day that should be written with golden letters in the nation's history, he said.
Whole country is looking at Telangana with wonder for waiving upto Rs 2 lakh loan of farmers at one go. By doing so, Telangana State created a record, he said.
No State ever implemented Rs 2 lakh loan waiver for farmers at once in the country and Telangana became a model State in this for the country, he added.
The whole Congress Party which already fulfilled five of six guarantees promised in the election manifesto today also kept its word on loan waiver of upto Rs 2 lakhs to farmers.
After the bifurcation of the State, though the rich Telangana State was governed by the BRS Party, the KCR government could implement Rs one lakh loan waiver scheme over a period of five years in four instalments.
The BRS which came to power in 2018 in fact could not completely implement Rs 1 lakh loan waiver scheme for farmers even in five years.
The BRS government reduced the rich Telangana State into a State with Rs 7 lakh loan burden in last five years but the Congress Party which came to power sincerely mobilised funds rupee by rupee and demonstrated its commitment to farmers by implementing loan waiver scheme as promised, he said.
Congress party leader Rahul Gandhi in Warangal public meeting announced that if Congress party came to power it would waive loan of Rs 2 lakh to farmers at one go. As promised, Congress government is implementing loan waiver scheme with Rs 31,000 crore.
Beginning from today, over Rs 6,000 crore are released to credit upto Rs 1 lakh, into farmers' accounts.
The Government is committed to the announcement made by Chief Minister Revanth Reddy that by August 15, individual farmers' loans upto Rs 2 lakhs would be repaid to banks .
Many were sceptical when CM Revanth Reddy announced the August 15 deadline but today with great courage government was depositing Rs 1 lakh each into farmers' accounts. Today's loan waiver implementation programme is the step to fulfil government's commitment to implement Rs 2 lakh loan waiver by August 15, he reiterated.
Mr Bhatti said that the State government would be depositing a total of Rs 31,000 crore into accounts of 40 lakh farmers in the State to clear loans owed by farmers to the banks.
No corporate entity in the country in independent India released Rs 31,000 crore to banks at one go to clear loans so far, he asserted.
Bhatti thanked the voters Telangana Chief Minister Revanth Reddy for bringing the Congress Party to power in the State and congratulated the party leaders and the cadre for the success of the party at the hustings.