TS to implement farmers loan waiver scheme by Aug 15

Hyderabad: The state government has decided to implement the Rs 2 lakh farmers loan waiver scheme before August 15 this year. The ruling Congress has made the promise of the waiver of farm loans up to Rs 2 lakh in the election manifesto in the recently held Assembly elections.

To ensure the loan waiver scheme is implemented as per the schedule prepared by the government, the authorities have already started framing the guidelines for implementing the farmers loan waiver along with Rythu Bharosa and crop insurance schemes. Top officials said that the government was estimating funds of around Rs 35,000 crore to clear the farmers loans. The government was also planning to float a special body to implement the loan waiver scheme. The government will soon hold a meeting with the state-level bankers committee and explore various possibilities on the loan waiver scheme.

The previous BRS government had waived farm loans worth Rs 30,000 crore after it promised waiver of loans up to Rs 1 lakh. Sources said that the eligible farmers would be identified through the state agriculture department who will submit a report to the Finance wing for the sanction of the budget to implement the scheme by June. The finance department will finalise the schedule to clear the loans taken from the banks and complete the process by August, sources said.