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The final loan waiver phase relieves Telangana farmer’s debts, enabling them to secure new agricultural loans for future growth.
The state government has launched the third and final phase of its debt waiver scheme, providing significant relief to farmers. Agricultural loans taken by farmers are being waived in a phased manner. The government has previously implemented the first and second phases, waiving loans up to Rs 1 lakh and Rs 1.50 lakh respectively. Now, the third phase is underway, offering loan waivers for amounts up to Rs 2 lakh.
Under this scheme, loans of up to Rs 2 lakh will be waived for eligible farmers. This initiative is part of the state’s commitment to support the agriculture and agricultural community, helping farmers become debt-free and eligible for new loans. Previously, many farmers were unable to secure new loans due to outstanding debts. With the debt cleared, farmers can now approach banks for fresh agricultural loans, benefiting both the farmers and the banks.
The Fasal Karj Mafi Yojana, or crop loan waiver scheme, is targeted at farmers who have taken loans up to Rs 2 lakh between December 12, 2018, and December 13, 2023, but have been unable to repay them due to financial hardships or crop losses. This third phase is designed to cover those who have not yet received relief under the previous phases.
On August 15, 2024, the Telangana government implemented this final phase at a cost of Rs 5,644.24 crore. This phase will benefit over 4.46 lakh farmers across the state. The scheme is also known as the Raithu Karj Mafi Yojana. In the earlier phases, the state government spent Rs 6,098.93 crore to waive loans for 11,50,193 farmers and Rs 6,190.01 crore for 6,40,823 farmers, respectively.
If you have applied for the loan waiver and your name was not included in the previous lists, follow these steps to check if you are eligible for the third and final list:
By following these steps, farmers can easily check their eligibility and benefit from the final phase of the loan waiver scheme, ensuring their financial stability and access to new agricultural loans.
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The third phase of the loan waiver scheme provides crucial relief to Telangana’s farmers, helping them become debt-free and eligible for new loans. This final phase marks the government’s continued commitment to supporting the agricultural community, ensuring financial stability and growth for thousands of farmers across the state.