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    HomeTelanganaGovernment considering farm loan waiver based on recipients' income

    Government considering farm loan waiver based on recipients’ income

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    The State government in Hyderabad is considering capping the farm loan waiver benefit at Rs 2 lakh for beneficiaries based on their income levels. This means that ministers, MPs, MLAs, MLCs, government employees, and IT taxpayers may not be eligible for the waiver.

    To ensure that the farm loan waiver scheme can be implemented successfully, the government plans to focus on helping poor farmers. Chief Minister A Revanth Reddy is determined to waive farm loans for all poor farmers by August 15 this year. A Cabinet meeting will be held in a week to finalize the details of the scheme.

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    The Agriculture department, responsible for implementing the scheme, has discovered that some farmers who have taken loans up to Rs 2 lakh are actually financially stable. Some of these farmers are government employees with high salaries, while others are filing income tax returns. The Union government already provides financial assistance of Rs 6,000 annually to eligible farmers through the PM Kisan scheme.

    Also read:  DC BM Santhosh highlights the importance of collaboration between farmers and officials for cultivating premium crops
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    Rajesh M
    Rajesh M
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