Telangana Government to establish Special Corporation for crop loan waiver by August 15

HYDERABAD: Chief Minister A. Revanth Reddy directed officials to establish a special corporation, if necessary, to mobilise funds to waive crop loans up to Rs 2 lakh by August 15.

CM Revanth Reddy held a meeting with officials regarding the farmers' loan waiver scheme and paddy procurement at the Dr. BR Ambedkar Telangana Secretariat on Wednesday. The meeting was attended by Ministers N. Uttam Kumar Reddy, P. Srinivas Reddy, D. Sridhar Babu, and the Chief Minister's Advisor Vem Narender Reddy.

As promised to the farmers, the Chief Minister decided to waive their loans by August 15. Officials were instructed to make necessary arrangements to implement the loan waiver scheme. The CM also reviewed the state's current financial situation and the details of regular revenue expenditure.

The Chief Minister discussed with officials the need to mobilise adequate funds for the loan waiver before lifting the Model Code of Conduct for the Lok Sabha election. He ordered officials to develop a plan of action with proper procedures to implement the loan waiver up to Rs 2 lakh. He instructed officials to establish a Special Corporation, if necessary, for the welfare of farmers and to mobilise funds for the loan waiver scheme.

As the state government had already announced its intention to free farmers from debt burdens, the CM urged officials to complete the efforts to collect funds within the stipulated time. He suggested consulting bankers willing to provide substantial funds and advised officials to study the policies adopted in Maharashtra, Rajasthan, and other states regarding farmer loan waivers.

CM Revanth Reddy also directed officials to expedite paddy procurement and ensure no interference from middlemen. Officials were advised to take measures to purchase paddy directly from farmers, process it through milling, and supply fine rice to fair price shops. He also directed the completion of paddy procurement before the onset of the monsoon season.

The Chief Minister instructed officials to purchase paddy at the market yards promptly and ensure that farmers do not face any difficulties selling paddy with higher moisture content. He warned of strict action against rice millers who commit irregularities in purchasing paddy.