The crop loan waiver scheme was one of the main poll promises of TRS chief and Telangana Chief Minister K Chandrashekar Rao during 2018 Assembly polls.
He promised to waive off crop loans up to Rs 1 lakh if TRS is voted to power again. TRS won 2018 Assembly polls but failed to waive off crop loans even after more than two-and-a-half years.
Last year, the government waived off loans up to Rs 25,000 in first phase.
In the second phase now, loans up to Rs 50,000 are being waived off.
The Telangana government today issued GO sanctioning Rs 2,006 crore to waive off crop loans of 6 lakh farmers who owe loans from Rs 25,000 to Rs 50,000 each.
The amount will be credited in the bank accounts of farmers directly from August 16 to 31.
Even after, the government still have to waive off loans up to Rs 75,000 in the third phase and up to Rs 1 lakh in the last phase which may be done in the next two years till 2023 December Assembly polls.
Finance minister T Harish Rao today held meeting with bankers asking them not to adjust crop loan waiver amount for any other arrears of farmers after the government credits the amount in their bank accounts.
