Dear friends, Telangana State Government has also taken initiative for farmers and has started crop loan waiver scheme. The plan was announced during the state assembly by Chief Minister K Chandrasekhar Rao that he would fulfill the promise at the time of elections. If you are a farmer of Telangana and are curious about this scheme then you are on the right page, we will provide you all important information related to this scheme released by the government. Please have a look at the approved content further to collect important information.
About crop loan waiver scheme Telangana
Crop loan waiver scheme has been announced for the welfare of farmers. Crop loan waiver will be given up to Rs. 1 farmers in five stages. Under this scheme, the state government has promised to waive crop loans of Rs. 25000 / – in the first phase and Rs. 25000 / – to Rs. 1 lakh will be waived in the next four phases in four years. For the first phase, the government raised the budget amount to Rs. 1,198 crores for the year 2020-21. The next four phases require Rs 24,738 crore and the state government had put Rs 6,225 crore in the budget under the first installment plan.
Features of Telangana Crop Loan Waiver Scheme
- Crop loan waiver will be given up to Rs. 1 Lac
- Crop loan waiver will be given in five stages
- In the first phase, the government will invest Rs. Will forgive 25000 / – cropped loan.
- The scheme is applicable for all crops whose loan amount was sanctioned after 1 April 2014 and is outstanding till 11 December 2018.
- The crop loan waiver is disbursed by commercial banks, cooperative credit institutions including urban cooperative banks and regional rural banks.
- The state government has approved Rs 1,198 crore for this plan for the budget of 2020-21.
- This scheme is beneficial for 5.83 lakh farmers of the state
Benefit of the Telangana Crop Loan Waiver Scheme
- State Government Rs. Will forgive 25000 / – cropped loan in the first phase
- Applicants will get the amount by check
Eligibility conditions for the scheme
- Applicant should be a permanent resident of Telangana State
- Applicant’s crop loan must be approved or renewed after April 1, 2014
- The loan repayment was outstanding as of 11 December 2018
Telangana Crop Loan Waiver Scheme
| Name of the scheme | Crop Loan Waiver Scheme |
| Launched in | Telangana |
| Launched by | Chief Minister K Chandrashekhar Rao |
| Launched for | Farmers |
| Benefits | Loan waiver |
| Official website | Disclosed soon |
Disbursement of benefits under Telangana crop loan waiver scheme
An announcement made by Agriculture Secretary B Janardhan Reddy on 17 March 2020 stated that an IT portal for farmers would be developed. With the help of this portal collection, the department has decided to finalize the outstanding and eligible loan amount to enhance the processing of beneficiaries’ data and increase the profit. After that, the banks will prepare the list of the farmers along with the outstanding amount in the prescribed form and submit it to the concerned authorities, after which the final list of beneficiaries will be prepared by the department.
Procedure for application of Telangana crop loan waiver scheme
Till now the Telangana government has not informed that the information related to the application. This will be revealed after the government launches the IT portal.
Complaint Procedure
According to the announcement, a monitoring and grievance redressal system is also established by the government at the divisional, district and state levels. As soon as you file your application, every representation will be settled by the concerned authorities within 30 days. The confirmation process for filing your complaint application will be thereafter.