Telangana Crop Loan Waiver Scheme 2019 – Farm Loans (Rs. 1 Lakh) to Waive Off

Telangana Farm Loan Waiver Scheme 2019 to waive off crop loans of farmers upto Rs. 1 lakh outstanding till 11 Dec 2018, govt. to spend Rs. 32,000 crore on crop loan waiver scheme in Telangana

Dated: June 5, 2019 | Updated On: June 5, 2019 | By: Karan Chhabra | 3635 Views |
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. is going to spend an amount of Rs. 32,000 crore.

Telangana govt. presents Rs. 1,82,017 crore budget and Revenue expenditure is estimated at Rs. 1,32,629 crore. Around 42 lakh farmers to benefit from Farm Loan Waiver Scheme in Telangana.

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 32,000 crore has been estimated for FY 2019. 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.

This is the highest amount which a state govt. is going to spend on Telangana Farm Loan Waiver Scheme. Previously, Maharashtra, Karnataka, Uttar Pradesh have given much higher costs on loan waiver but their actual allocation was less. Telangana’s estimated and actual allocation is same for the Farm Loan Waiver Scheme in the previous few years. A recent report of the state-level bankers’ committee (SLBC) put Telangana’s estimated cost at Rs. 32,000 crore which is far above Rs. 17,000 allocated in FY 2014-15.

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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