KCR announces `1L farm loan waiver in Telangana

HYDERABAD: Telangana Chief Minister K Chandrasekhar Rao on Tuesday assured Rs one lakh farm loan waiver, besides increasing assistance under the Rytu Bandhu scheme to Rs 10,000 per annum from the current Rs 8,000 if the TRS was voted to power once again.

Announcing some of the important points of the Telangana Rashtra Samitis manifesto for the December 7 assembly polls, he said the pension amount would be double and the eligible age limit reduced to 57 years from the existing 65.

As soon as we came to power in 2014, we realised that farmers of the state have to be supported. As part of that, we announced farm loan waiver of Rs one lakh in the run up to the elections. As promised, we implemented it. However, as the farmers need further support,the TRS felt the scheme should be implemented once again and so announced the present loan waiver programme, which would be done in one or two instalments

The complete manifesto was still being worked out and yet to be announced, he said.

“People are anxious to know TRSS manifesto. So we have announced a partial manifesto,” he said.

The TRS government has waived Rs one lakh farm loan by spending over Rs 17,000 crore in four instalments. There are about 45 lakh farmers who avail bank loans, of which nearly 42 lakh took loans of less than Rs one lakh, he said, justifying Rs one lakh ceiling for loan waiver.

Under the scheme, an assistance of Rs 8,000 an acre to all eligible farmers in two instalments of Rs 4,000 each.