Telangana government begins to forgo loans from 6 lakh farmers – the New Indian Express
HYDERABAD: Agriculture Minister Singireddy Niranjan Reddy said the state government has launched a trial to waive agricultural loans to the tune of 2,005 crore on the occasion of Independence Day on Sunday, August 15, 2021. The actual waiver of agricultural loans would begin on Monday.
The exemption is extended to 6 06 811 farmers across Telangana, who have benefited from harvest loans ranging from Rs 25,000 to Rs 50,000.
In a media statement, the minister said as part of Sunday’s trial loans between Rs 25,000 and Rs 25,100 had been canceled. Monday, loans over Rs 25,000 would be canceled and Tuesday, those over Rs 26,000 would be canceled. Gradually, all loans would be canceled by August 30.
He also said that between 2014 and 2018, the government renounced loans amounting to Rs 16,144 crore and that 2.96 lakh farmers, who had received loans of less than Rs 25,000, received the loan exemption amounting to Rs 408.38 crore since 2018.
Loans canceled before August 30
As part of Sunday’s trial, loans between Rs 25,000 and Rs 25,100 were canceled. Monday, loans over Rs 25,000 would be canceled and Tuesday, those over Rs 26,000 would be canceled. Gradually, all loans would be canceled by August 30.