Hyderabad: The state government is launching a new farm loan waiver scheme on Tuesday. This scheme will waive loans up to Rs 1.50 lakh for farmers.
Chief Minister A Revanth Reddy and his cabinet will begin this program during the ongoing budget session at the Assembly premises. The loan waiver amount will be directly deposited into the farmers’ bank accounts.
In the first phase of this scheme, 11.50 lakh farmers received a total of Rs 6,098 crore in their bank accounts. However, some farmers faced technical issues and did not receive the benefits. The banks are working to fix these problems.
The Chief Minister has also announced that by August 15, the total farm loan waiver will increase to Rs 2 lakh. This will benefit 36 lakh farmers, with a total of Rs 31,000 crore being deposited into their accounts under the scheme.
