Telangana releases Rs 5,809 cr towards loan waiver of 900,000 farmers

The Telangana government on Monday released Rs 5,809.78 crore towards the loan waiver of over nine lakh farmers.

Chief Minister K Chandrasekhar Rao directed finance officials to pay dues of up to Rs 99,999 per farmer to the banks as per his assurance earlier that 'farmers who took loans up to Rs one lakh (each) would be liberated from debt', an official release said.

Accordingly, Rs 5,809.78 crore for 9,02,843 farmers was released on Monday, it said.

Despite the problems for the state government in mobilising funds due to COVID-19 pandemic and demonetization, the state government has already paid Rs 1,943.64 crore for 7,19,488 farmers who took loans of up to Rs 50,000, it said.

With today's decision, more than 16 lakh ryots benefited in total, the release added.

CM KCR on August 2 directed state Finance Minister T Harish Rao and officials to "resume" farm loan waiver from August 3 and complete it by the second week of September.