CM to launch 2nd phase of farm loan waiver scheme today

Hyderabad: The State government will launch a second farm loan waiver scheme up to Rs 1.50 lakh on Tuesday. Chief Minister A Revanth Reddy and his cabinet colleagues will start the farm loan waiver programme on the Assembly premises in the ongoing budget session. The loan waiver amount would be deposited directly in the bank accounts of the farmers. In the first phase, 11.50 lakh farmers received the loan waiver benefit of Rs 6,098 crore in their bank accounts. Due to technical issues, a few farmers were unable to receive the benefits, but the banks are working to resolve the problem.

The CM already announced that the total farm loan waiver up to Rs 2 lakh would be implemented by August 15. A total of Rs 31,000 crore, benefitting 36 lakh farmers, would be deposited in the farmers’ accounts under the farm loan waiver scheme.