Telangana CM Revanth Reddy Announces Farm Loan Waiver for All Farmers
Telangana Chief Minister A Revanth Reddy announced on Tuesday that the farm loan waiver scheme of up to Rs 2 lakh will apply to every farmer family possessing a land passbook. This announcement was made during the Collectors Conference held at the Secretariat.
CM Reddy explained that the ration card is used only for family identification. There are 90 lakh ration cards in the state, while 70 lakh farmer accounts have bank loans. He clarified that 6.36 lakh farmers without ration cards who took farm loans are also eligible for the waiver.
The Chief Minister instructed collectors to meet with district bankers on Thursday, July 18, to discuss the scheme. He emphasized that the funds released for the loan waiver should be used exclusively for farmers and warned against fund diversion.
CM Reddy announced that loan waiver funds of up to Rs 1 lakh will be deposited in farmers’ accounts at 4 pm on July 18. He suggested organizing gatherings of beneficiaries at Rythu Vedikas, with ministers, MLAs, and other public representatives attending to share the happiness with farmers.
A senior-level officer will be available in the secretariat to address any doubts raised by collectors regarding the loan waiver scheme.
Doubts Revealed
Telangana -: Telangana is a state in southern India. It was formed in 2014 when it separated from Andhra Pradesh.
CM -: CM stands for Chief Minister. The Chief Minister is the head of the government in an Indian state.
Revanth Reddy -: Revanth Reddy is the Chief Minister of Telangana. He is the leader who makes important decisions for the state.
Farm Loan Waiver -: A farm loan waiver means that the government will pay back the money that farmers owe to banks. This helps farmers who are struggling to repay their loans.
Rs 2 lakh -: Rs 2 lakh means 2,00,000 rupees. It is a way to write the amount of money in the Indian numbering system.
Land passbook -: A land passbook is a document that shows the details of the land owned by a farmer. It is like a record book for land ownership.
Ration cards -: Ration cards are documents that allow people to buy food and other essentials at lower prices from government shops. They are usually given to families with lower incomes.
District bankers -: District bankers are bank officials who work in different districts (areas) of the state. They help manage the money and loans for people in their district.
Fund diversion -: Fund diversion means using money for something other than what it was meant for. In this case, it means using the loan waiver money for something other than paying back farm loans.