The Telangana state Government has waived crop loans up to 1.5 lakh rupees under the second phase of the loan waiver scheme for farmers. The government has released Six thousand 198 crore rupees for the same, benefitting 6.4 lakh farmers in the state. Chief Minister Revanth Reddy formally announced the release of funds at a programme held in Hyderabad yesterday and distributed some cheques on the occasion. The funds have been credited directly to the bank accounts of farmers.

As part of the farm loan waiver scheme, the state government waived loans amounting to one lakh rupees earlier this month benefitting about 11 lakh farmers. Speaking on the occasion, the chief minister said the government has proved its commitment to farmers’ welfare by allocating an amount of 31 thousand crore rupees for a loan waiver scheme. The Congress party promised during the Assembly elections last year to waive crop loans up to 2 lakh rupees.