The Telangana Rashtra Samithi (TRS,) released the guidelines of the Crop Loan Waiver scheme 2018. The guidelines will be applicable to all the loans given to farmers on or after the 1st of April 2014 till the 11th of December 2018.
K. Chandrashekar Rao, the Chief Minister of Telangana, announced the guidelines under the scheme, promising benefits to the farmers of the State.
Under the Loan Waiver scheme, the crop loans upto Rs. 25,000 will be waived off in the first phase for all the eligible farmers. The loans above Rs. 25,000 upto Rs. 1 lakh would be in the second phase. The TRS Government allotted a sum of Rs. 1,198 crores in its Budget session for the year 2020-2021, to be used to waive off outstanding crop loans of below Rs. 25,000. This scheme would benefit 5.83 lakh farmers. While the amount above Rs. 25,000 upto Rs. 1 lakhs, which would be equal to Rs. 24,738 crore for all farmers, the State Government allotted Rs. 6,225 crores. This amount would be used to clear the 1st installment of the farmers with a loan amount above Rs. 25,000.
On the 17th of March, B. Janardhan Reddy, the Secretary of Agriculture Department, issued the release and said an IT portal would be developed for the collection, the processing, and the finalisation of the data of the beneficiaries’ outstanding and eligible loan amounts.
After this, the commercial and cooperative banks would make a village wise list of farmers with outstanding loan amounts.
Finally, the district level bankers committee would conduct a meeting to take a decision on the amount and the eligibility of the’ farmers.
After finalising the list, a monitoring and grievance redressal system would be established at mandal, district and State levels to disburse the funds.
The scheme would complete all the loans of the eligible farmers by 2024.
