Chief Minister A Revanth Reddy is finalizing the guidelines for a farm loan waiver scheme up to Rs 2 lakh, which may launch next week. The government is deciding whether to consider families or individual farmers for the benefit. Certain groups, such as Income-Tax payers, government employees, and wealthy farmers, will not be eligible for the scheme.
To ensure smooth implementation and avoid backlash, officials are carefully planning the loan waiver scheme. They have mobilized Rs 10,000 crore for the initial launch, potentially by mortgaging government lands. The overall goal is to provide relief to poor farmers burdened by debt, with the aim of benefiting those in need the most.
The government aims to gather Rs 30,000 crore for the scheme, prioritizing assistance to financially struggling farmers. The Agriculture and Finance departments are collecting data on farmers’ financial situations to determine eligibility. Farmers who took loans between December 12, 2018 and December 9, 2023 may qualify for the scheme.
If funds permit, the government plans to roll out the scheme in phases and complete it by August 15.
