Hyderabad: Telangana Chief Minister A Revanth Reddy on Tuesday launched the second phase of his government’s crop loan waiver scheme. This phase has an outlay of over Rs 6,198 crore and is set to benefit nearly 6.4 lakh farmer families. The initiative aims to free farmers from debts up to Rs 2 lakh before August 15, a symbolic date for Indian independence.
Revanth Reddy highlighted that in the first phase, the government waived off loans up to Rs 1 lakh for farmers. On Tuesday, loans up to Rs 1.5 lakh were waived. He criticized the previous BRS government for failing to fulfill its promise of waiving loans worth Rs 25,000 crore during its 10-year tenure.
The Chief Minister proudly stated that Telangana has set a record by waiving Rs 31,000 crore in loans, something no other state has achieved since Independence. He compared this to banks that resort to one-time settlements for corporate loans, emphasizing that his government is providing a “full-time settlement” to protect farmers’ self-respect.
Revanth Reddy claimed that his government has paid Rs 43,000 crore in interest over six months on loans taken by the previous BRS regime. He also praised the Congress-led governments for implementing significant measures like the Green Revolution, irrigation projects like Nagarjuna Sagar, the nationalization of banks, the Food Security Act, a Rs 72,000 farm loan waiver, and subsidies on seeds and fertilizers.
The Chief Minister criticized the previous government for accumulating insurmountable debts and mortgaging the state. He assured that the Congress government is making efforts to relieve the state from its debt burden.
He concluded by stating that opposition parties doubted the government’s ability to fulfill its promises. However, the current government has proven that it can and will deliver on its commitments, unlike its predecessors.
