Telangana Crop Loan Waiver Scheme to Waive Off Farm Loans Upto Rs. 1 Lakh

Telangana Farm Loan Waiver Scheme to waive off crop loans of farmers upto Rs. 1 lakh outstanding till 11 Dec 2018, unemployment allowance scheme to give monthly stipend to youths also announced in Budget 2019-20

Dated: February 22, 2019 | Updated On: February 24, 2019 | By: Karan Chhabra | |
Telangana Farm Loan Waiver Scheme

Telangana government has announced Crop Loan Waiver Scheme in Budget 2019-20 presented on 22 February 2019. Now the state govt. has proposed to waive off all agricultural term loans upto Rs. 1 lakh. Outstanding farm loans of farmers which are taken till 11 December 2018 are going to be waived off. This is the next major step of the KCR govt. for farmers welfare after the introduction of Rythu Bandhu Scheme.

Chief Minister K. Chandrasekhar Rao who also holds the finance portfolio has now presented vote-on-account budget in the state’s legislative assembly. For the successful implementation of Telangana Farm Loan Waiver Scheme, the state govt. has proposed an amount of Rs. 6,000 crore.

Telangana govt. presents Rs. 1,82,017 crore budget and Revenue expenditure is estimated at Rs. 1,32,629 crore.

Telangana Crop Loan Waiver Scheme 2019-20

The state govt. of Telangana has proposed to waive off all agricultural term loans upto Rs. 1 lakh outstanding as on 11 December 2018. For this Crop Loan Waiver Scheme, an amount of Rs 6,000 crore has been proposed in the vote on account budget 2019-2020. Telangana Rashtra Samiti (TRS) party led by CM KCR had made a pre-poll promise of waiving off crop loans of farmers before the 7 December 2018 assembly elections.

Previously for the welfare of farmers, the state govt. had launched Rythu Bandhu Scheme. The govt. is extending support of Rs. 4,000 per acre per crop season amounting to Rs. 8,000 per annum. As per the announcement made in Budget 2019-20, CM KCR has increased this support amount to Rs. 5,000 per acre per crop. The total support in a single year will now be Rs. 10,000 per acre.

Now the state govt. has also proposed to introduce an unemployment allowance scheme in which each eligible youth would get Berojgari Bhatta of Rs. 3,016 per month. The state govt. is working out on the scheme and implementation guidelines of this new scheme for berojgar youth.

The ‘Aasara’ pensions which covers the aged, widows, single women, beedi workers, people suffering from filariasis, handloom workers and toddy-tappers are proposed to be increased from Rs 1,000 per month to Rs 2,016 per month. For the differently abled person, CM has proposed to raise their monthly pension from Rs. 1,500 to Rs. 3,106.

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