Officials told to explore options to implement crop loan waiver up to ₹2 lakh

CM asks officials to workout guidelines before model code of conduct ends in Telangana

Published - May 16, 2024 12:41 pm IST - HYDERABAD

Telangana Chief Minister A. Revanth Reddy

Telangana Chief Minister A. Revanth Reddy | Photo Credit: NAGARA GOPAL

The Congress government in Telangana, headed by Chief Minister A. Revanth Reddy, has started exploring options for fulfilling one of its key promises waiver of crop loans up to ₹2 lakh.

The Chief Minister, who convened a meeting with senior officials on Wednesday, reiterated his commitment to complete loan waiver up to ₹2 lakh by August 15. He directed the officials concerned to work out modalities in this direction while enquiring about the State’s financial situation and details relating to revenue and expenditure.

He wanted the officials to explore ways to mobilise funds through different channels before the conclusion of the model code of conduct on June 6 and evolve guidelines for the effective implementation of the promise. The officials were asked to consider the proposal for setting up a separate corporation for mobilising the funds required.

As the State government was committed to relieving farmers from their debt burden, the officials should hold discussions with bankers who were willing to loan the huge amounts required for the purpose, Mr. Revanth Reddy said. The officials were asked to study the models of loan waiver implemented in Maharashtra, Rajasthan and other States in this regard for effective implementation of the promise given by the Congress in the run up to the Assembly elections.

At the same time, Mr. Revanth Reddy directed the officials to speed up procurement of food grains, paddy in particular, from farmers without giving scope for the intervention of middlemen. Paddy procured from farmers should be milled and steps should be taken to ensure supply of fine rice through public distribution system, he added.

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