Telangana Govt to Launch 2 Lakh Farm Loan Waiver Scheme Soon

Telangana 2 Lakh Farm Loan Scheme – The Telangana government is negotiating with banks to launch a ₹2-lakh agriculture credit program known as the Telangana 2 Lakh Farm Loan Waiver Scheme. To lessen farmers’ financial burden on their crops, the government intends to introduce a farmer loan waiver of 2 lakh benefits on crops in the Telangana state. Read the article below to learn more about Telangana 2 Lakh Farm Loan Scheme

Telangana

Telangana 2 Lakh Farm Loan Scheme 2024

Telangana Congress party made so many promises in its election manifesto. Telangana 2 Lakh Farm Loan Scheme is one of the six guarantees. Besides the ‘six guarantees’ that helped the party clinch the December 2023 elections; the Congress party made a bunch of other promises in its election manifesto. This includes the farm loan waiver scheme, which promises to waive farm loans up to ₹2 lakh. The government signed MoUs worth ₹40,000 crore during Chief Minister Revanth Reddy’s recent trip to the World Economic Forum (WEF) at Davos.

Telangana Rythu Bharosa Scheme

TS 2 Lakh Farm Loan Waiver Scheme Details in Highlights

Name Telangana 2 Lakh Farm Loan Scheme
Launched by Telangana government
Objective to lessen farmers’ financial burden
State Telangana
Benefit farm loan is waived up to ₹2 lakh

Objective of Telangana 2 Lakh Farm Loan Scheme

With the advice of financial bankers, the government intends to obtain a bank loan and directly deposit the farmer’s loan to their account. This plan will be completed before the release of the current budget, and if accepted, it will be disclosed during the budget session of Telangana in 2024.

Implementation Date of Scheme

Although there is now uncertainty regarding the timetable of implementation, the loan waiver challenge will be settled this year.

Rythu Bheema Pathakam

Financial Details under Telangana 2 Lakh Farm Loan Waiver Scheme

Following are the details of finance offered under the scheme.

  • Farmer Loan Waiver – up to 2,00,000
  • Fund needed – 40000 Crores

Benefits of Telangana 2 Lakh Farm Loan Scheme

The government can guarantee the banks, shifting the total cost of loans and interest to the government in place of paying the banks in installments. In turn, it can float a corporation to negotiate with banks and pay farmers in phases.

Following its pledge to waive debts up to Rs 1 lakh, the previous BRS government waived farm loans totaling Rs 30,000 crore. In 2023, the Congress party made a significant election campaign pledge to forgive up to Rs 2 lakh in farm loans. “The state-level banker’s committee and the government will meet soon to discuss potential options for the loan forgiveness program.


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