Good News: Telangana Government Releases Rs 8,200 crore for Rythu Bandhu and Loan Waiver Schemes

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The ongoing lockdown in the country due to Covid-19 pandemic has badly affected the lives of farmers and labourers. Considering the condition of farmers during the lockdown and to provide some relief to them, the state government of Telangana has released Rs 7,000 crore for Rythu Bandhu scheme for Vanakalam or Kharif crop and another Rs 1,200 crore for the crop loan waiver i.e. a total of Rs 8,200 crore on 7th May 2020 (Thursday).

The Telangana government has decided to deposit the crop loan waiver money directly into the bank accounts of farmers of the state. In the 1st instalment crop loan waiver, an amount of Rs 1,200 crore would be deposited into the bank accounts of around 6.1 lakh farmers.

S Niranjan Reddy, Agriculture Minister and T Harish Rao, Finance Minister held a review with the finance & agriculture officials on Thursday to finalise the modalities.

The Ministers told the officials to deposit money immediately into the bank accounts of cultivators, whose crop loan amounts were Rs 25,000 or less. It must be noted that crop loans will be waived in 4 more instalments later for those farmers whose loan amounts were more than Rs 25,000 but less than Rs 1 lakh. 

Finance Minister said that the funds for one of the most beneficial scheme Rythu Bandhu was also released on Thursday and the money will be deposited into the bank accounts of farmers directly. It is said that Rythu Bandhu scheme will benefit as many as 51 lakh farmers who are cultivating 1.40 crore acres.  He added that the process will be completed in the next 30 days.

SOURCE: Krishi Jagran