Telangana Completes Final Phase of Rs 5,644 Crore Crop Loan Waiver
The Congress government initiated the process of waiving loans up to Rs two lakh in three phases starting July 8, fulfilling its election promise.
The Telangana government has carried out the third and final phase of crop loan waiver at an outlay of Rs 5,644.24 crore, which would benefit over 4.46 lakh farmers.
The Congress government launched the process of waiver of loans of up to Rs two lakh in three phases on July 8 as per the promise made in its election manifesto.
Loans up to Rs one lakh were waived in the first phase, with an outgo of Rs 6,098.93 crore, benefiting 11,50,193 farmers, while the second phase, with an outlay of Rs 6,190.01 crores helped 6,40,823 farmers, according to an official release.
Rs 17,934 crore has been deposited in the accounts of farmers in three phases and the number of farmers whose loans have been dispensed with was 22,37,848.
According to Chief Minister A Revanth Reddy, crop loan waiver is being implemented in keeping with the promise made by Leader of the Opposition in Lok Sabha Rahul Gandhi in 2022.
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