Telangana: Crop loan waiver upto Rs 50,000 from Aug 15

Hyderabad: The State Cabinet on Sunday approved the proposal to waive off crop loans upto Rs 50,000 benefitting about six lakh farmers in the State. The amount will be deposited into the bank accounts of the beneficiary between August 15 and 31. The decision was taken after the Finance department tabled the status report on […]

Hyderabad: The State Cabinet on Sunday approved the proposal to waive off crop loans upto Rs 50,000 benefitting about six lakh farmers in the State. The amount will be deposited into the bank accounts of the beneficiary between August 15 and 31. The decision was taken after the Finance department tabled the status report on implementation of crop loan waiver in the State before the Cabinet.

Due to the Covid-induced financial crisis during the last two year, the State government was able to waive off loans upto only Rs 25,000 availed by farmers in the past. The government had earlier promised to waive crops loans upto Rs 1 lakh availed by farmers between April 1, 2014 and December 11, 2018.

The Cabinet also reviewed the farm operations including rains, crops, availability of irrigation water, fertilisers and other issues. The officials were instructed to initiate steps to further increase the cultivation of cotton crop by motivating farmers in the State which has emerged as the largest cotton producer in the country.

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