Committed to waiving crop loans up to Rs 1 lakh/farmer

Written by fe Bureau | Hyderabad | Updated: Jun 7 2014, 03:12am hrs
Telangana chief minister K Chandrasekhar Rao on Wednesday said his government was committed to waive crop loans of upto R1 lakh. He made it clear that only crop loans availed by farmers between June 2013 and June 2014 would be waived and the waiver may work out to less than R12,000 crore. The KCR government also directed the banks to give fresh loans to farmers for the ensuing cropping season.

This was finalised after KCR held a meeting with top bank officials to discuss the implementation of the scheme to waive farm loans as promised by Telangana Rashtra Samithi (TRS) in its election manifesto. A formal decision on waiving crop loans of upto R1 lakh will be discussed next week, E Rajender, minister for finance, Telangana, said.We will waive crop loans upto R1lakh in tune with our election promise that was reiterated by the TRS party. We have also asked bankers to issue fresh loans for the Kharif season, Rajender added.

He said the government had asked banks to provide details on loans outstanding in the stipulated limit within a week. As promised in the manifesto, we would waive crop loans taken during the year 2013-14 and not agriculture-allied loans like dairies, livestock, fisheries, multiple loans or gold loans, he added.