Ending suspense, CM Revanth announces to waive off farm loan by Aug 15

Hyderabad: Chief Minister A Revanth Reddy today decided to waive off the farmer's loans by August 15.

Revanth Reddy chaired a meeting to discuss the farmers’ loan waiver scheme rollout and paddy procurement. Ministers N Uttam Kumar Reddy, P Srinivas Reddy, D Sridhar Babu, and Chief Minister's Advisor Vem Narender Reddy were present in the meeting.

The officials have been asked to make necessary arrangements to implement the loan waiver scheme. The CM inquired about the current financial situation of the state and the details of revenue expenditure incurred regularly.

The CM asked officials to mobilize adequate funds for loan waiver before lifting the election code. The Chief Minister ordered the officials to come out with a plan of action with proper procedures to implement the loan waiver up to Rs 2 lakh. The CM instructed the officials to float a Special Corporation, if required, for the welfare of farmers and mobilize funds for a loan waiver scheme.

As the state government already announced to ease farmers' debt burden, the CM asked the officials to complete the efforts to collect funds within the stipulated time. The CM suggested consulting the bankers who come forward to give huge amounts of funds. The officials are also advised to study the policies adopted in Maharashtra, Rajasthan, and other states regarding farmer loan waivers.

CM Revanth Reddy directed the officials to speed up the paddy procurement and ensure that there is no interference from middlemen. The officials are suggested to take measures to purchase paddy from the farmer, process through the milling, and supply fine rice to the fair price shops. The CM ordered to completion of the paddy procurement before the onset of the monsoon season.

The Chief Minister asked the officials to purchase paddy at the market yards at the earliest and ensure the farmers do not face any trouble buying paddy with more moisture content. The CM warned of strict action against the Rice millers who commit irregularities in the purchase of paddy