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Telangana Govt to speed up farm loan waiver
The state government is all set to implement the farm loan waiver scheme ahead of the onset of monsoon to ensure that farmers secure fresh loans during kharif season. The government has decided to do so following the forecast by the Indian Meteorological Department (IMD) that the monsoon is likely to be above normal.
Hyderabad: The state government is all set to implement the farm loan waiver scheme ahead of the onset of monsoon to ensure that farmers secure fresh loans during kharif season. The government has decided to do so following the forecast by the Indian Meteorological Department (IMD) that the monsoon is likely to be above normal.
However, around 2 lakh farmers out of 33 lakh beneficiaries will not benefit by the loan waiver as they could not renew their loans in the banks last year.
- A decision to this effect was taken following IMD forecast that the monsoon is likely to be above normal
- The move will help farmers secure fresh loans during kharif season
- CM's directive spurs officials of the finance, revenue and agriculture departments into action
The third installment of the waiver would be disbursed in May and 31 lakh farmers would benefit from it. It is estimated that as much as Rs 4,250 crore loan amount would be written off this year and the remaining Rs 4,250 crore in the fourth installment next year.
It may be mentioned here that Chief Minister K Chandrashekar Rao announced that farm loans up to Rs 1 lakh would be waived and thus relieving farmers from debt burden in the new state of Telangana
The promise was incorporated in the TRS election manifesto. As the financial position of the state was not good then, the government announced the waiver of Rs 17,000 crore farm loans in four installments in four years.
An official of finance department told The Hans India that on the instructions of the Chief Minister, the agriculture, finance and revenue departments speeded up the process of loan waiver.
Banks have already been instructed to conduct audit and submit the details of the farmers who are availing the benefit for the third consecutive year under the scheme.
Ahead of the monsoon, all formalities would be completed and fresh loans would be given to farmers for Kharif in June. The implementation of loan waiver scheme has been delayed for the last two years due to administrative problems.
In 2014, loans under first installment had been waived in December. In 2015, the second installment was implemented in September. Coupled with drought, many farmers gave up farming due to delay in loan waiver in two agricultural seasons in the last two years.
Revenue department has also been asked to verify the ownership of the lands possessed by the farmers who did not renew their loans in 2014-15. About 2 lakh farmers stayed away from availing loans last year.
In some cases, farmers sold out their lands and in some instances, peasants stopped taking loans due to prevailing drought conditions. A decision whether to waive loans taken by 2 lakh farmers would be taken only after receiving a report from revenue officials.
