Govt to waive crop loans in three spells from July 18: CM Revanth

While the loans upto Rs.1 lakh will be waived from Thursday in the first spell, loans upto Rs 1.5 lakh will be cleared by the end of July in the second spell and the remaining loans, those upto Rs 2 lakh, will be waived before August 15.

Hyderabad: The State government has decided to implement the crop loan waiver scheme in three spells commencing from Thursday.

While the loans upto Rs.1 lakh will be waived from Thursday in the first spell, loans upto Rs 1.5 lakh will be cleared by the end of July in the second spell and the remaining loans, those upto Rs 2 lakh, will be waived before August 15.

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Revealing the details to elected representatives and leaders of the Congress at a TPCC meeting held at Praja Bhavan on Wednesday, Chief Minister A Revanth Reddy said the disbursement of the loan amounts would commence at 4 pm on Thursday.

About Rs.7,000 crore would be deposited into the bank accounts of farmers with loans upto Rs 1 lakh. He stated that a total of Rs 31,000 crore would be disbursed to clear the farm loans of all eligible farmers.

Stating that all measures were being taken to benefit majority of the farmers under the scheme, he wanted the party leaders to organise grand celebrations including motorcycle rallies in all villages and mandal headquarters, to publicise about the State government’s initiative.

The Chief Minister claimed that the State government spent Rs 30,000 crore for welfare schemes in the last seven months where about 62 crore women benefited under the Mahalakshmi scheme which includes free bus rides, subsidised LPG cylinders and subsidised power supply.

Deputy Chief Minister Mallu Bhatti Vikramarka, Ministers Damodara Raja Narasimha, Ponnam Prabhakar, Ponguleti Srinivas Reddy, Tummala Nageswara Rao and others Ministers, MLAs, MLCs, MPs and District Congress Committee leaders participated in the meeting.