Telangana 2 Lakh Farm Loan Waiver Scheme 2024: Online Apply, Eligibility

The Telangana government is negotiating with banks to launch a ₹2-lakh agriculture credit program known as the Telangana 2 Lakh Farm Loan Waiver Scheme. To lessen farmers’ financial burden on their crops, the government intends to introduce a farmer loan waiver of 2 lakh benefits on crops in the Telangana state. Read the article below to learn more about Telangana 2 Lakh Farm Loan Scheme

Telangana 2 Lakh Farm Loan Scheme 2024

Telangana 2 Lakh Farm Loan Waiver Scheme 2024

Telangana Congress party made so many promises in its election manifesto.  Telangana 2 Lakh Farm Loan Scheme is one of the six guarantees. Besides the ‘six guarantees’ that helped the party clinch the December 2023 elections; the Congress party made a bunch of other promises in its election manifesto. This includes the farm loan waiver scheme, which promises to waive farm loans up to ₹2 lakh. The government signed MoUs worth ₹40,000 crore during Chief Minister Revanth Reddy’s recent trip to the World Economic Forum (WEF) at Davos.

22nd June 2024 Update:- Telangana government approved waiving Rs 31,000 crore agriculture loans

Farmers in Telangana would have their loans of Rs two lakh waived. The cabinet agreed to waive the first Rs 2 lakh of the farm loan. During its ten-year tenure, the previous administration only waived farm loans of Rs 28,000 crore. The previous administration set the deadline to qualify for the farm loan waiver program benefit on December 11, 2018. The loan waiver’s details, including eligibility requirements, will be revealed later. It would cost the state treasury approximately Rs 31,000 crore. An earlier version of this initiative, which cost the state treasury Rs 28,000 crore, was introduced by the BRS government. To ensure the welfare of farmers, the government agreed to waive loans. For ten years, the previous government broke its word to the farmers.

Telangana Rythu Bharosa Scheme

TS 2 Lakh Farm Loan Scheme Details in Highlights

NameTelangana 2 Lakh Farm Loan Waiver Scheme
Launched byTelangana government
Objectiveto lessen farmers’ financial burden
StateTelangana
Benefitfarm loan is waived up to ₹2 lakh

Objective of Telangana 2 Lakh Farm Loan Waiver Scheme 2024

With the advice of financial bankers, the government intends to obtain a bank loan and directly deposit the farmer’s loan to their account. This plan will be completed before the release of the current budget, and if accepted, it will be disclosed during the budget session of Telangana in 2024.

Implementation Date of Scheme

Although there is now uncertainty regarding the timetable of implementation, the loan waiver challenge will be settled this year.

Rythu Bheema Pathakam

Financial Details under Telangana 2 Lakh Farm Loan Waiver Scheme

Following are the details of finance offered under the scheme.

  • Farmer Loan Waiver – up to 2,00,000
  • Fund needed – 40000 Crores

Benefits of Telangana 2 Lakh Farm Loan Waiver Scheme 2024

The government can guarantee the banks, shifting the total cost of loans and interest to the government in place of paying the banks in installments.  In turn, it can float a corporation to negotiate with banks and pay farmers in phases.

Following its pledge to waive debts up to Rs 1 lakh, the previous BRS government waived farm loans totaling Rs 30,000 crore. In 2023, the Congress party made a significant election campaign pledge to forgive up to Rs 2 lakh in farm loans. “The state-level banker’s committee and the government will meet soon to discuss potential options for the loan forgiveness program.

Eligibility criteria for TS 2 Lakh Farm Loan Waiver Scheme 2024

  • The applicant must belong to the Telangana state.
  • He or she must be a farmer.

Documents Required to Apply

  • Aadhar card
  • Passport size photograph
  • Mobile number
  • Land details
  • Domicile certificate
  • Bank account

How to Apply Online for Telangana 2 Lakh Farm Loan Waiver Scheme 2024

  • To apply for the scheme, you must visit the official website.
  • The homepage of the website will appear on the screen.
  • Now from the homepage, click on the click here to get the loan waiver option.
  • A new page will be displayed.
  • Enter all your details like name, address, dob, etc.
  • Upload the relevant documents.
  • Check the details carefully.
  • Click on the submit option.

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