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HomeNewsKCR to waive farm loans upto Rs 1 lakh

KCR to waive farm loans upto Rs 1 lakh


Ahead of the elections in line with the Bharat Rashtra Samithi campaign slogan Ab Ki Baar Kisan Sarkar, the Telangana government led by chief minister K. Chandrasekhar Rao plans to offer farmers a New Year’s gift in January – waiver of agricultural loans of up to Rs 1 lakh, which has been pending since the 2018 Assembly polls. 

KCR has decided to waive loans up to Rs 75,000 and up to Rs 1 lakh in two phases beginning in January, while the government waived loans up to Rs 25,000 in the first phase in 2020 and up to Rs 50,000 in the second phase in 2021. 

The government spent Rs 408 crore to waive crop loans up to Rs 25,000, which covered 2.96 lakh farmers. In the second phase, the government paid Rs 4,900 crore to waive crop loans of nearly 6.06 lakh farmers who had borrowed up to Rs 50,000. 

According to the crop loan waiver scheme norm of one family-one beneficiary, a special software is being used by the government which could easily detect multiple loan-takers in a single family due to Aadhaar linkage and remove them from the list of beneficiaries.

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