This is an archive article published on August 15, 2023
‘I-Day gift’: Ahead of Telangana Assembly polls, KCR waives farm loans up to Rs 1 lakh
Finance Minister T Harish Rao said that with this, the BRS government is fulfilling its election promise. KCR said the money will be immediately deposited in banks on behalf of 9 lakh farmers.
3 min readHyderabadUpdated: Aug 16, 2023 03:23 AM IST
Telangana Chief Minister K. Chandrashekar Rao hoists the national flag during celebrations of the 77th Independence Day at the Pragati Bhavan, in Hyderabad, Tuesday, Aug. 15, 2023. (PTI Photo)
‘I-Day gift’: Ahead of Telangana Assembly polls, KCR waives farm loans up to Rs 1 lakh
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Ahead of the approaching Assembly elections in Telangana, Chief Minister K Chandrashekar Rao Tuesday waived farm loans up to Rs 1 lakh in the state saying he was freeing farmers of their debt burden on the occasion of Independence Day.
The Finance Department has released Rs 5,809.78 crore for the purpose and KCR said the money will be immediately deposited in banks on behalf of 9 lakh (9,02,843) farmers.
State Finance Minister T Harish Rao said that with this, the BRS government is fulfilling its election promise of waiving farmers’ loans. While assuming power for the second consecutive time in the state in 2018, KCR had vowed to waive agricultural loans of less than Rs 1 lakh that were availed of till December 11, 2018.
The loan waiver will be implemented in a phased manner, he said. Earlier, the Bharat Rashtra Samithi chief directed officials to formulate a comprehensive action plan in this regard. On his instructions, officials of the agriculture and finance departments wrote to the banks. It took a year to complete the entire process, an official said.
Due to the Covid-19 pandemic and subsequent lockdown, the government faced difficulties in mobilising resources for the loan waiver scheme. However, it has already paid Rs 1,943.64 crore to banks in respect of 7 lakh (7,19,488) farmers who had taken loans up to Rs 50,000. This amount has been adjusted in loan waiver accounts.
On August 2, KCR carried out a comprehensive review of the agricultural sector and announced that the loan waiver scheme will be implemented. Officials have been given clear instructions to complete the process within 45 days. Finance Minister Harish Rao also issued a Budget Releasing Order (BRO) in this regard on August 3.
Announcing the waiver, the chief minister said Telangana has “once again proved to be a farmer-friendly state”. “Irrigation facilities have been provided like nowhere else in the country. Under Mission Kakatiya, 35,000 abandoned ponds and water bodies have been repaired and a multi-purpose project like Kaleshwaram…creates a miracle in the field of irrigation. Making fertilizers available to farmers on time, providing seeds, stringent laws like PD (Preventive Detention) Act to curb the sale of spurious seeds, buying every seed grown by farmers, and providing marketing facilities to them are among a slew of measures taken by the state government to strengthen the farming community,” he underlined.
Sreenivas Janyala is a Deputy Associate Editor at The Indian Express, where he serves as one of the most authoritative voices on the socio-political and economic landscape of Telangana and Andhra Pradesh. With a career spanning over two decades in mainstream journalism, he provides deep-dive analysis and frontline reporting on the intricate dynamics of South Indian governance.
Expertise and Experience
Regional Specialization: Based in Hyderabad, Sreenivas has spent more than 20 years documenting the evolution of the Telugu-speaking states. His reporting was foundational during the historic Telangana statehood movement and continues to track the post-bifurcation development of both Telangana and Andhra Pradesh.
Key Coverage Beats: His extensive portfolio covers a vast spectrum of critical issues:
High-Stakes Politics: Comprehensive tracking of regional powerhouses (BRS, TDP, YSRCP, and Congress), electoral shifts, and the political careers of figures like K. Chandrashekar Rao, Chandrababu Naidu, and Jagan Mohan Reddy.
Internal Security & Conflict: Authoritative reporting on Left-Wing Extremism (LWE), the decline of the Maoist movement in former hotbeds, and intelligence-led investigations into regional security modules.
Governance & Infrastructure: Detailed analysis of massive irrigation projects (like Kaleshwaram and Polavaram), capital city developments (Amaravati), and the implementation of state welfare schemes.
Crisis & Health Reporting: Led the publication's ground-level coverage of the Covid-19 pandemic in South India and major industrial incidents, such as the Vizag gas leak.
Analytical Depth: Beyond daily news, Sreenivas is known for his "Explained" pieces that demystify complex regional disputes, such as river water sharing and judicial allocations between the sister states. ... Read More
