Hyderabad- The Telangana State Cabinet recently approved a proposal to provide relief to farmers by waiving up to 2 lakh rupees of their crop loans. The state government intends to benefit nearly 40 lakh farmers with this decision.

The proposal was made by Chief Minister A. Revanth Reddy after a meeting of the State Cabinet in Hyderabad.

According to the government, the waiver will be applicable for farmers who have taken crop loans from December 12, 2018, to December 9, 2023. A government order (GO) is expected to be issued by the government soon to lay down the eligibility criteria for the crop loan waivers. The government estimates that the waiver will require an investment of 31 thousand crore rupees.

The Cabinet also approved the establishment of a subcommittee headed by Deputy Chief Minister M. Bhatti Vikramarka to assist in the implementation of Rythu Bharosa. The subcommittee will submit its report by July 15, 2024.

The government has also decided to implement a crop loan waiver of 1 lakh rupees for farmers. This waiver will be applicable for farmers who have taken crop loans from December 12, 2018, to December 9, 2023.

The waiver was first implemented by the BRS government in 2014 and 2018. In the first term, the waiver was applicable to farmers with a cut-off date of March 31, 2014, and in the second term, it was applicable to farmers with a cut-off date of December 11, 2018.

The crop loan waiver was a part of the Rythu Bharosa initiative launched by the BRS government in 2014. The initiative aims to provide relief to farmers and enable them to continue their business operations. The waiver is expected to benefit nearly 40 lakh farmers in Telangana state.