Telangana releases 1,210 crore yen for crop loan waiver
The state government has given an administrative sanction for the release of 1,210 crore for the implementation of the first phase of the agricultural loan exemption program – to repay the debt of farmers up to 25,000, y including principal amount and interest per family.
In his budget speech, Finance Minister T. Harish Rao announced to the Legislative Assembly on March 8 that the state government has already made a provision to release 1,198 crore to write off farmers’ debt until to 25,000 during the month of March. himself.
Budget release order
As a result, the Ministry of Finance issued a budget release order for 1,210 crore on March 13.
In the orders issued Wednesday, Secretary (Agriculture) B. Janardhan Reddy gave an administrative sanction for the release of the amount intended to cover the expenses of the program of debt relief for farmers (waiver of loan).
It was mentioned in the budget that around 5.84 lakh farmers were initially estimated to be covered in the first phase of the loan waiver program.
The state government on Tuesday released guidelines for implementing the program, and as part of it, commercial and cooperative banks were asked to provide details of farmers with debt of up to 25 000 to December 11, 2018.
The lists at the village level would then be reviewed at the mandal and district level to avoid duplication, as some farming families receive agricultural loans from different banks and in different villages, as some families would have land in more than a village.
Two week time
Official sources said that although the government has released the required amount for the implementation of the first phase of the loan exemption program, the finalization of the beneficiaries would take at least two weeks.
After finalization of beneficiaries, village lists, the State Level Bankers Coordinating Committee (SLBC) would authorize the disbursement of the checks, which in all likelihood should only take place in the month of April.
As decided, the loan waiver checks would be issued to the affected beneficiaries personally by the affected lawmakers unlike the practice of releasing money directly to banks to adjust against farmers’ debt.