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The state cabinet of Telangana, led by Chief Minister Revanth Reddy, has decided to waive crop loans taken by farmers from banks. This loan waiver will apply to loans taken before December 9, 2023.
Chief Minister Revanth Reddy had promised that the loan waiver process would be completed by August 15. In a recent ministerial meeting, discussions were held on raising funds and other related issues to fulfill this promise.
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The government will release official guidelines and procedures soon for farmers to access the benefits of the loan waiver scheme. This decision brings relief to many farmers in the state who have been facing financial challenges and debt.
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