Chief Minister K.Chandrasekhar Rao has announced waiver of loans obtained up to ₹99,999 in continuation with his promise of waiving farm loans.
The Chief Minister made the announcement on the eve of the Independence Day on Tuesday, fulfilling the promise made by the Telangana Rashtra Samithi (now Bharat Rashtra Samithi) in the manifesto of the previous elections. Orders have been issued to the Finance department to credit the amounts into the accounts of farmers who obtained loans from different banks.
Mr.Rao instructed the department officials to credit the amounts into the respective accounts of farmers. The department had accordingly released orders sanctioning ₹5,809.78 crore that would be credited as repayment of dues of 9.02 lakh farmers. The development assumes significance as the Chief Minister had promised to waive farm loans up to ₹1 lakh in the run-up to the 2018 Assembly elections.
