On the occasion of the Independence Day celebrations, Chief Minister K Chandrashekhar Rao has announced the waiver of farm loans up to Rs 99,999.
The government released the required funds to clear the farmer’s debts immediately. The CM said that the farmers who took loans less than Rs.1 lakh will be freed from the debt burden and decided to pay the loan amount up to Rs 99,999 to the banks.
The Chief Minister said that money will be deposited in the banks immediately on behalf of the farmers. The finance department released Rs 5809.78 crore in respect of 9, 02, 843 farmers on Monday. The released amount will be deposited in the farmer’s accounts in the banks under loan waiver.
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Due to the Corona pandemic, lockdown, and the consequences of demonetization in the country, the government faced a big difficulty in mobilizing the resources. However, it has already paid Rs 1943. 64 crore to the banks in respect of 7,19,488 farmers who took loans up to Rs 50,000. This amount has been adjusted in loan waiver accounts. Recently, Rs 5809.78 crore has been released for the loan waiver of farmers who owe up to Rs,99 999 rupees to the banks.
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