CM keeps his vow, to launch third phase of crop loan waiver on Aug. 15
As promised, the State government is all set to clear the third instalment of crop loan waiver on August 15 with Chief Minister A. Revanth Reddy launching the programme in Vaira mandal of Khammam district.
In the third instalment, crop loans of ₹1.50 lakh-₹2 lakh will be waived off and funds will be deposited in the bank accounts of beneficiary families, thus completing the exercise in three phases.
Mr. Revanth Reddy had assured farmers, during the LS election campaign, that loan waiver would be completed by August 15 at any cost. In fact, he vowed on gods and goddesses of the towns he visited during his campaign.
It was the first time that a State government has waived off loans on such a massive scale and that too, in such a short time after coming to power. Farmers whose loans exceed ₹2 lakh will get it waived off, up to ₹2 lakh, at a later stage, as disclosed in the guidelines released for farm loan waiver, an official said.
The Chief Minister has been assuring farmers that despite the financial crisis in the State due to the huge debts incurred over the last 10 years, he was committed to clearing farm loans up to ₹2 lakh, as Rahul Gandhi has promised to do so in the Warangal Declaration. The scheme is supposed to benefit 32.50 lakh farmers.
The first instalment of the scheme was released on July 15 and the amount was deposited into the accounts within three days. Farmers in the slab of ₹1 lakh loan were covered in the first phase and an amount of ₹6,034.97 crore was released covering 11,14,412 farmers.
The second phase of loan clearance started on July 30. Farmers who had debts ranging from ₹1 lakh to ₹1.50 lakh were freed from debt. An amount of ₹6,190.01 crore was deposited into the accounts of 6,40,823 farmers. Together, ₹12,000 crore was given to the families of around 17.55 lakh farmers in just 12 days.
The third phase will cover the remaining farmers whose crop loans fall between ₹1.50 lakh and ₹2 lakh, thus ending the crucial promise.
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