In an important move for farmers in Telangana, the Congress government, led by Chief Minister Revanth Reddy, is starting the second part of its loan waiver program today. The event will take place at the Assembly premises at 12 PM.
Earlier, on July 18, the government successfully completed the first part of the program. During this phase, loans under Rs. 1 lakh were waived for about 11.50 lakh farmers. Over Rs. 6,000 crores were deposited into the accounts of these farmers.
In the second part, the government plans to help farmers with loans ranging from Rs. 1 lakh to Rs. 5 lakh. This initiative will benefit around 7 lakh farmers. Officials have announced that a total of Rs. 7,000 crores has been set aside for this purpose.
The government is committed to fulfilling its promise to waive off the second tranche by July 31. All preparations for the event are complete, and CM Revanth Reddy is expected to formally announce the waiver and transfer the funds to the beneficiaries today.
