Hyderabad: Efforts to waive farm loans up to Rs 2 lakh have commenced. Officials have instructed the District Central Cooperative Bank, Agricultural Cooperative Societies, and Andhra Pradesh Grameena Vikas Bank (APGVB) to submit lists of farmers eligible for the loan waiver. These banks have provided significant crop loans in rural areas.
Commercial banks may also be instructed soon to provide lists of eligible farmers.
Previously, the BRS government implemented a phased loan waiver scheme, waiving farm loans of Rs 25,000, Rs 50,000, and less than Rs 1 lakh. However, the BRS government did not waive loans for farmers who had not renewed their loans, leaving many without relief.
The Congress government has now announced a new loan waiver initiative. It will waive loans of up to Rs 2 lakh for farmers who took loans between April 1, 2019, and December 10, 2023. This decision aims to support a larger number of farmers across the state.
