Hyderabad: Deputy chief minister and finance minister Bhatti Vikramarka on Tuesday urged banks to expedite the distribution of new farm loans as only 7,500 crore had reached farmers despite the govt spending 18,000 crore for previous farm loan waiver.
Addressing the State Level Bankers Meeting (SLBC), he said that it was important to understand the loan waiver scheme’s purpose beyond just looking at numbers.He emphasised the need for timely implementation to ease the financial burden faced by the agricultural community.
Bhatti also conveyed the significance of the agricultural sector in the state’s economy, outlining a range of measures including loan waivers, farmer support programmes, investment support, and funding for essential irrigation projects.
The deputy CM outlined the govt’s commitment to rapid rural development, including the construction of a Regional Ring Road (RRR).
He pointed out that the provision of uninterrupted free electricity and assistance offered to farmers through waiver of 2 lakh loan were contributing to the strengthening of the ancillary sectors of agriculture.
Moreover, he announced the govt’s intention to allocate 1 lakh crore for interest-free loans to self-help groups, urging bankers to extend their support in driving progress. He stressed the potential for job creation through micro and small industries, to encourage their growth.
Agriculture minister Tummala Nageswara Rao urged banks to understand the challenges faced by ryots.
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The BRS planned a statewide protest on August 22 demanding the state government implement the farm loan waiver scheme without restrictions. Only 40% of eligible farmers received the waiver, causing confusion. BRS criticized the inconsistency in officials’ statements regarding the scheme’s completion and vowed to continue their fight until all farmers benefit.
Former minister Harish Rao criticized CM Revanth Reddy for breaking his loan waiver promise, labeling him as unfit to be CM. Despite assurances, Reddy failed to fulfill his promise of waiving Rs 40,000 crore in farmer loans. Harish highlighted the discrepancy between Reddy’s claims and the actual figures, calling his promise a blatant lie.
KT Rama Rao challenged Chief Minister A Revanth Reddy to prove that 100% of farmers in Kodangal assembly constituency benefited from the loan waiver scheme. Rama Rao accused the Congress government of only providing waivers to 60% of eligible farmers and cheating them regarding other financial promises. The party plans to expose this and take legal actions.
