TS Pays Over Rs 4K Cr for Loan Waiver

Keeping its poll promise to farmers, the Telangana government has begun implementing the crop loan waiver scheme. As a first instalment, of the Rs 17,000-crore scheme burden, it will pay Rs 4,250 crore to bankers. The remaining will be paid in phases.

The cabinet sub-committee on crop loan waiver, headed by Agriculture Minister Pocharam Srinivasa Reddy, submitted its report to Chief Minister K Chandrasekhar Rao at the Secretariat here Monday. KCR, without losing any time, decided to act on the report and accordingly, directed officials to pay Rs 4,250 crore as a first instalment to the bankers. Around 36 lakh farmers benefit from the scheme.

“The remaining amount of around Rs 13,000 crore will be paid in 3-4 instalments,” sources told Express. Later at a press conference, Finance Minister E Rajender said, “Farmers need not bother about how the government will go about it. The matter is between the government and the bankers. The government gave a guarantee to the bankers on repayment of the remaining Rs 13,000 crore.” Taking a swipe at the scheme’s critics, he quipped, “Where there is a will, there is a way.”

Pointing out that kharif loan disbursement will close on Sept 30, he said that was why the government had paid to the bankers to help farmers get fresh loans.

Source: The New Indian Express

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