CM Revanth Reddy announces farm loan waiver implementation from July 18

Telangana Chief Minister Revanth Reddy on Tuesday announced that the farm loan waiver will be implemented from July 18. Under the loan waiver decision, agricultural loans of up to Rs 1 lakh will be waived off by the government. The state government will directly deposit the amount to farmer's loan accounts by the evening of July 18.

While sharing the information, the Telangana Chief Minister Office (CMO) stated that clear instructions have been issued to the bankers that the loan waiver funds should not get diverted. It also said that if any banker is found depositing the released fund in other accounts, strict action will be



taken against them.

It is pertinent to note that farm loan waiver was one of the major promises made by the Congress party, apart from six guarantees, in the run-up to last year's assembly polls. The other six guarantees were categorised as "Mahalakshmi", "Rythu Bharosa", "Gruha Jyothi", "Indiramma Indlu", "Yuva Vikasam" and "Cheyutha". However, the announcement of Rs 1 lakh has drawn criticism from the opposition as initially Rs 2 lakh loan waiver was promised. Earlier, it was reported that Rs 31,000 crores would be exhausted by the state government to waive off the loans, but the limit per farmer at that time was Rs 2 lakh.