In a significant development,Telangana State cabinet decided to waive off farm loans up to 1 lakh, as per ruling TRS party election manifesto. The step came even as the RBI decided to limit it’s loan rescheduling plan for only a portion of the State. Chief Minister KCR signed off on the waiver in Monday’s cabinet meet but the official orders are yet to be made public. In all, 39,07,409 farmers are likely to get benefited from the government decision, which may cost the TS Govt. close to Rs 19,000 Cr. Crop loan, gold loan taken for agricultural needs and agricultural term loans up to Rs. 1 lakh per farmer would be written off as part of the waiver scheme. The loans should have ...

The Telangana government started the process to waive off farm loans up to 1 lakh for each farmer, as per this week’s cabinet decision. The Govt, set up a  inter-departmental committee to decide the modalities and monitor implementation. Chief secretary Rajiv Sharma issued orders to this effect on Saturday. The loan waiver is supposedly costing the Govt. Rs 19000 Cr. The committee will be headed by principal secretary (finance) V Nagi Reddy. The other members of the committee include principal secretaries BR Meena (revenue), P Rama Krishna Rao (finance) and Poonam Malakondaiah (agriculture), Registrar of Cooperative Societies, SLBC convenor, APCOB MD, a representative of RRB and financal advisor. Agriculture commissioner B Janardhan Reddy will be the convenor of the committee.