Telangana CM A Revanth Reddy says crop loan waiver in one go, to cost Rs 31k crore

HYDERABAD: Chief minister A Revanth Reddy on Friday said the Congress govt will waive crop loans of farmers up to Rs 2 lakh in one go for which Rs 31,000 crore will be spent. He also announced a cabinet sub-committee on implementation of Rythu Bharosa scheme headed by deputy CM Bhatti Vikramarka which will submit a report, including eligibility criteria, after consultations before July 15.
Soon after the state cabinet meeting ended, the CM told reporters that a GO will be issued highlighting the eligibility criteria, guidelines and date of implementation of crop loan waiver. The cabinet earlier unanimously decided to waive off crop loans obtained by farmers from various banks between Dec 12, 2018, and Dec 9, 2023.
"We will not go for instalments as done by the previous BRS govt in its second term," Revanth said.
During the Lok Sabha election campaign rallies the CM had promised farmers that crop loans would be waived off by his govt before Aug 15. Sources said Dec 9 cut-off date was chosen because it was on this day in 2009 that then Union home minister P Chidambaram had announced the Centre would start the process of carving out a separate Telangana. Dec 9 also happens to be Sonia Gandhi's birthday.
'BRS govt spent ₹28k cr for crop loan in 10 years'
The CM said the BRS govt had deposited 16,000 crore into bank accounts of farmers towards loan waiver during its first term. Another 12,000 crore was deposited in instalments during its second term.
"The previous govt spent 28,000 crore towards crop loan waiver in 10 years whereas the Congress govt will spend 31,000 crore for it within 7-8 months," he said. Briefing the decision taken on cut-off dates for the crop loan waiver, CM Revanth Reddy said the BRS govt in its second term had fixed Dec 11, 2018, as cut-off date. He said the cabinet had decided to fix the starting cut-off date as Dec 12, 2018, and the end cut-off date at Dec 9, 2023, spanning five years.
The decision of the cabinet was in tune with the 'farmers' declaration' released by Rahul Gandhi in Warangal in May 2022, promising to waive off crop loans.
"The decision stands testimony to the fact that top leaders - be it Sonia Gandhi, Mallikarjun Kharge or Rahul Gandhi - will deliver the promises at all costs once they give their word," Revanth said.
Putting up a united show, the state cabinet was present at the media conference where CM Revanth Reddy announced that a cabinet sub-committee headed by deputy chief minister Bhatti Vikramarka has been constituted to consult all stakeholders and submit a report on implementation of Rythu Bharosa along with eligibility criteria before July 15.
The report will be tabled in the budget session of the assembly and opinions of all the political parties and MLAs will be taken. Agriculture minister Tummala Nageswara Rao, IT minister D Sridhar Babu and revenue minister Ponguleti Srinivas Reddy are members of the sub-committee.
The CM announced that Sridhar Babu and Ponguleti will henceforth share information on all govt's decisions with media to avoid rumours, speculations and false reports from being published.