Hyderabad, July 17 (Agency) “Farmers are the backbone of the country,” said Telangana Revenue Department Minister Ponguleti Srinivas Reddy. He announced that the Telangana government has taken a historic decision to provide debt relief to farmers, aiming to support farmers and standing firmly behind them. In a statement on Wednesday, Srinivas Reddy noted that former Chief Minister K. Chandrasekhar Rao had declared in the assembly that a loan waiver of one lakh rupees was not feasible. However, current Chief Minister Revanth Reddy has made the impossible possible by waiving loans of up to two lakh rupees, a revolutionary decision. The state’s economy had been weakened under the previous government, yet despite financial challenges, the present administration kept its promise to the farmers.
The Chief Minister announced that farmers’ loans would be waived by August 15, but the government has fulfilled this promise months in advance, demonstrating its commitment to the farmers. Srinivas Reddy stated that on July 18, loans up to one lakh rupees would be waived, with money deposited into farmers’ loan accounts by the end of the day.He called this a momentous day in the state’s history.He also recalled that 16 years ago, the Congress government at the Center had waived agricultural loans and interest worth Rs 72,000 crore for farmers. The Minister emphasised that agriculture should become more profitable in Telangana, and the government is committed to making farmers financially stronger. With 60 per cent of the population dependent on agriculture, the state’s well-being hinges on the success of the agriculture sector. The government’s priority is the development of agriculture, intending to make farming a profitable and celebrated activity. The ultimate goal is to empower farmers and make them prosperous through initiatives like the crop loan waiver scheme, marking a significant beginning, he added.