Telangana Government Relieves Farmers, Releases Rs 5,809.78 Crore Loan Waiver

In a significant move to alleviate the financial burden on its agrarian population, the Telangana government has taken strides towards fulfilling its commitment to waive off loans for over nine lakh farmers. On Monday, the Chief Minister of Telangana, K Chandrasekhar Rao, authorized the release of a substantial sum of Rs 5,809.78 crore to facilitate the loan waiver process.

In line with his prior assurance, Chief Minister Rao directed finance officials to clear the dues of farmers with outstanding loans up to Rs 99,999. The announcement, which promised to liberate farmers from their debt obligations, was greeted with enthusiasm by the farming community.

The monumental decision translates into a direct benefit for a whopping 9,02,843 farmers across the state. These funds, released on Monday, mark a significant step forward in the implementation of the government's commitment to agricultural upliftment.

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The state government's resolve to support its farming community has remained steadfast, despite the challenges posed by the COVID-19 pandemic and the impact of demonetization. Previous efforts have already led to the disbursement of Rs 1,943.64 crore to 7,19,488 farmers who had loans amounting up to Rs 50,000.

This latest move, aimed at larger loans, brings the total number of benefited farmers to an impressive figure of more than 16 lahks. The government's holistic approach to addressing the financial woes of farmers signifies its commitment to rural development and agriculture.

Chief Minister K Chandrasekhar Rao, on August 2, directed the state's Finance Minister T Harish Rao and other concerned officials to initiate the loan waiver process starting from August 3. The goal is to complete this crucial process by the second week of September, thus expediting relief to the farming community.

As the state of Telangana forges ahead with its determined efforts to support farmers and promote rural prosperity, this significant loan waiver announcement underlines the government's commitment to the well-being of its agricultural backbone. The move not only relieves financial stress but also paves the way for a brighter and more stable future for the farming community in Telangana.

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