Telangana govt mulls second phase of loan waivers worth Rs 24,000 crore

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Updated: January 22, 2019 1:03:08 AM

As part of the poll promise of Telangana Rashtriya Samithi (TRS) in 2014, chief minister K Chandrashekar Rao had waived all kinds of farm loans, which cost the state exchequer Rs 17,000 crore. The process was completed in 2017.

Telangana govt mulls second phase of loan waivers worth Rs 24,000 crore (Representational image)

The Telangana government is planning a second phase of farm loan waivers worth Rs 24,000 crore in a phased manner. While the timeline is yet to be decided, the state government said this will be implemented after the Lok Sabha elections.

As part of the poll promise of Telangana Rashtriya Samithi (TRS) in 2014, chief minister K Chandrashekar Rao had waived all kinds of farm loans, which cost the state exchequer Rs 17,000 crore. The process was completed in 2017.

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The second phase of waivers will also include all kinds of loans taken for agriculture purposes. “It will be worth Rs 24,000 crore for which the modalities are still being worked out and it will be implemented in phases,” KCR said in his reply in the Assembly to the governor’s address.

On the direct cash benefits or Rythu Bandhu Scheme, KCR said TRS would waive farm loan worth Rs 1 lakh and increase the incentive to Rs 10,000 per acre. At present, the TRS government is aiding farmers by providing them `8,000-crop investment per acre in two phases —Rs 4,000 each for the kharif and rabi seasons.

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