Telangana’s Deputy CM Mallu Bhatti Vikramarka has asked bankers to use state government funds for loan waivers effectively. The government’s main focus is to help farmers and make sure they don’t have to deal with debts.
At a meeting with bankers at Praja Bhavan, Deputy CM Vikramarka and Agriculture Minister Tummala Nageswara Rao talked about the Rs.2 lakh loan waiver scheme. This plan aims to cancel Rs.31,000 crores of loans in the state. So far, over 11 lakh farmers have benefited from the scheme, receiving Rs.6,000 crores.
The loan waiver scheme will give out money in two parts, with the second part coming before August. Bankers need to talk to farmers with loans over Rs.2 lakh and make sure they pay the rest of the amount. They also need to stop farmers from getting more debts past Rs.2 lakhs.
Vikramarka called the loan waiver scheme a big decision in the country’s history. The government is working hard to help farmers and ease their financial struggles.
