CM KCR said that due to economic slowdown caused by the centre’s decision of the demonetization, impact of Corona pandemic on the state economy, vindictive attitude adopted by the centre towards Telangana state by not releasing the FRBM funds etc, which contributed to the state fiscal deficit, are the main reasons for the delay in the implementation of farm loan waiver scheme.? ?

Following the state’s healthy economic conditions, CM KCR held a high-level review meeting at Pragati Bhavan on the steps to be taken to restart the farmer loan waiver scheme.

State Finance Minister Sri T Harish Rao, Chief Advisor to CM Somesh Kumar, Special Chief Secretary to Finance Ramakrishna Rao, HMDA Principal Secretary Arvind Kumar and Agriculture Secretary Raghunandan Rao participated in this review meeting.

CM KCR said that “ As promised by him, the government is implementing the farm loan waiver scheme. Due to unforeseen troubles like Corona, Centre’s unilateral decision to cut FRBM funds, and indifference toward Telangana in the release of funds delayed the process to the completion of the farm loan waiver scheme. State government is sincerely implementing the schemes like Rythu Bandhu, Rythu Bima, free electricity and irrigation to the farmers. Notwithstanding the problems faced by the state, the government will not neglect the welfare of the farmers. Further, the government initiated a big programme of setting up food processing units for agricultural development. Thus, there is no need to rest until the farmers are empowered and they are financially uplifted.”??

CM KCR said that, after the already waived loans, it required another Rs 19,000 crore for the waiver of pending farm loans. The CM ordered Finance Minister Harish Rao and Secretary Ramakrishna Rao to resume this programme from tomorrow (Thursday , August 3). CM KCR gave clear instructions to complete the farmer loan waiver programme by September second week on the lines of Rythu bandhu benefit deposited in the farmers bank accounts directly in phased manner.