The Government of Telangana State has introduced a loan waiver scheme for the farmers of the State. The state government has released Telangana 2 Lakh Farmers Loan Waiver Scheme. Under this scheme the government intends to reduce the financial burden of the farmers. From a long time the state government is in contact with various banks to launch loan waiver scheme. To know more about the scheme interested users can continue to read the article till the end. Further in this article we will provide you the detailed description about the Scheme including Objectives, Benefits & Features, Eligibility, Documents, Application Procedure for Telangana 2 Lakh Farmers Loan Waiver Scheme, etc.
About Telangana 2 Lakh Farmers Loan Waiver Scheme
Hon’ble Chief Minister of Telangana State Sri Anumula Revanth Reddy has introduced Telangana 2 Lakh Farmers Loan Waiver Scheme. Under this scheme loan of up to Rs. 2 Lakh will be waived off of the farmers across Telangana State. The Chief Minister of the state stated that we are going to clear all farmers loan of up to Rs. 2 Lakh at one go and will also provide a bonus of Rs. 500 on every quintal of paddy from the next agricultural season. The decision of farmers loan waiver has been taken as a part of the government’s commitment to support agricultural community.
During the poll campaign, Congress party went a step forward and promised to waive off farmers loan to the tune of Rs. 2 Lakh.
Key Highlights Of Telangana 2 Lakh Farmers Loan Waiver Scheme
| Name of the Scheme | Telangana 2 Lakh Farmers Loan Waiver Scheme |
| Launched By | Chief Minister of Telangana State Sri Anumula Revanth Reddy |
| Objective | To reduce the financial burden of farmers |
| Beneficiaries | Farmers of the Telangana State |
| Benefits | Loan of up to Rs. 2 lakh will be waive off |
| State | Telangana |
| Year | 2024 |
| Hosting Site | NIC (National Informatics Center) |
| Mode of Application | Online/Offline |
Objectives Of Telangana 2 Lakh Farmers Loan Waiver Scheme
The objectives of the Loan Waiver Scheme are as follows:
- The primary objective of launching the Farmers Loan Waiver Scheme is to reduce the financial burden of the farmers of the state by providing the financial assistance of Rs. 2 Lakh.
- The aim of the government to launch this scheme is to provide the financial assistance to the lakhs of farmers, specially to those farmers who are unable to pay the loan amount.
Benefits & Features Of Telangana 2 Lakh Farmers Loan Waiver Scheme
Here are some benefits & features of the Farmers Loan Waiver Scheme, which are as follows:
- Under Farmers Loan Waiver Scheme, the guarantee transferred to the government may be given by the state government to the public sector banks to cover the total cost of the loan and interest instead of paying it in installments.
- Previously the BRS government has waived off farmers loan worth a total of Rs. 30,000 Crore. After pledging to waive off loans of up to Rs. 1 Lakh.
- The Congress party made a key election campaign pledge to waive off farmers loan of up to Rs. 2 lakh.
- Additionally, the State Level Bankers Committee and the Government will hold a meeting soon to discuss possible options for the loan waiver program.
Eligibility Criteria
To avail the benefits under Farmers Loan Waiver Scheme, you should fulfill these eligibility criteria:
- Applicants must be permanent citizen of Telangana State.
- Applicants must be a farmer by profession.
- Farmers should not be availing any other government scheme.
Required Documents
To avail the benefits under Loan Waiver Scheme, candidates should have these following documents:
- Aadhar Card
- PAN Card
- Bank Account Number
- Passport Size Photograph
- Mobile Number
Application Procedure For Telangana 2 Lakh Farmers Loan Waiver Scheme
Hon’ble Chief Minister of Telangana State Sri Anumula Revanth Reddy has introduced Telangana 2 Lakh Farmers Loan Waiver Scheme.Currently, the scheme is in its initial phase and there is no such information available anywhere to know what is the process of application under Farmers Loan Waiver Scheme. It will entirely depend on the government to accept the applications through online application form or offline application form.
Interested individuals are advised to stay updated through the official channels. Once the website is operational, applicants can submit their applications online, seizing the opportunity to access benefits under Loan Waiver Scheme. As soon as we get any updates regarding the Application Procedure of the scheme we will update it here. So stay connected with us for latest updates.
FAQ’s
What is the key objective of Telangana 2 Lakh Farmers Loan Waiver Scheme?
The primary objective of launching the Farmers Loan Waiver Scheme is to reduce the financial burden of the farmers of the state by providing the financial assistance of Rs. 2 Lakh.
What is the benefit of Farmers Loan Waiver Scheme?
Under Farmers Loan Waiver Scheme, the guarantee transferred to the government may be given by the state government to the public sector banks to cover the total cost of the loan and interest instead of paying it in installments.
Who is eligible for Farmers Loan Waiver Scheme?
Permanent citizen of Telangana State who are farmers by profession are eligible for Farmers Loan Waiver Scheme.
Who launched the Farmers Loan Waiver Scheme?
Hon’ble Chief Minister of Telangana State Sri Anumula Revanth Reddy has introduced Farmers Loan Waiver Scheme.