Telangana to waive crop loans of up to Rs 1 lakh
Telangana Chief Minister K Chandrasekhara Rao on Wednesday said his government was committed to waive crop loans of up to Rs1 lakh.
Hyderabad: Telangana Chief Minister K Chandrasekhara Rao on Wednesday said his government was committed to waive crop loans of up to Rs1 lakh.
Rao held a meeting with the top bank officials to discuss the implementation of the scheme to waive farm loans as promised by his Telangana Rashtra Samithi (TRS) in its election manifesto.
Finance Minister E Rajender, however, clarified that the scheme will apply only to the loans availed during fiscal 2013-14.
KCR, as the chief minister is popularly known, directed the bankers to submit details of all crop loans of up to Rs 1 lakh.
Rajender told reporters that the bankers will submit the details by Monday. "After receiving the details, we will hold another meeting with the bankers to work out modalities of the scheme," he said.
Rajender said the banks were also asked to disburse fresh loans to farmers irrespective of the arrears of previous loans.
KCR, who took over as the first chief minister of Telangana on Monday wanted the bankers to ensure that farmers get the loans for coming kharif season.
Agriculture minister P Srinivas Reddy and top officials attended the meeting.