Telangana Cabinet gives nod to Waive Crop Loans for Farmers

In a significant decision, the state cabinet of Telangana, led by Chief Minister Revanth Reddy, has announced that crop loans taken by farmers from banks will be waived. The loan waiver will be applicable for loans taken before December 9, 2023.

Earlier, Chief Minister Revanth Reddy had assured that the loan waiver process would be completed by August 15. In a recent ministerial meeting, necessary discussions were held regarding fund raising and other related issues in order to fulfill this promise.

The government will soon release official guidelines and procedures for farmers to avail the benefits of the loan waiver scheme. This decision comes as a relief to many farmers who have been struggling with debt and financial challenges in the state.