Telangana Govt in Talk to Launch 2 Lakh Farm Loan Waiver Scheme Soon

Telangana 2 Lakh Farm Loan Scheme 2024, How to Apply Online, Check Eligibility & Waiver Amount – Telangana 2 Lakh Farm Loan Scheme is being started by the Telangana government to reduce the financial burden of the farmers of the state. The state government is in talks with the banks for the proper operation of this scheme. Through this scheme, loans of up to Rs 2 lakh of the farmers of the state will be waived off. This will reduce the financial burden on the crops of the farmers of the state and they will get some relief. In today’s article, we are going to provide you with all the important information related to Telangana 2 Lakh Farm Loan Scheme 2024. [Also Read – Praja Palana Application Status Check Online prajapalana.telangana.gov.in]

Telangana 2 Lakh Farm Loan Scheme 2024

The Congress Party has made many promises in the election manifesto to win the December 2023 elections, among these promises the government has also announced the launch of Telangana 2 Lakh Farm Loan Scheme. Through this scheme, agricultural loans of up to Rs 2 lakh of eligible farmers of the state will be waived off. Recently, MoUs worth ₹ 40,000 crore have been signed by the government. Apart from this, Telangana 2 Lakh Farm Loan Scheme 2024 will be completed before the release of the current budget, and if completed, it will be disclosed during the budget session of Telangana in 2024. [Also Read – Telangana White Ration Card Apply Online, Download Form PDF, Eligibility]

Telangana 2 Lakh Farm Loan Scheme

Overview of Telangana 2 Lakh Farm Loan Scheme

Scheme NameTelangana 2 Lakh Farm Loan Scheme
Started ByBy Telangana Government
Year2024
BeneficiaryFarmers holding agricultural loans of the state
Apply ProcedureOnline
ObjectiveReducing the financial burden of farmers
BenefitsThe financial burden of farmers will be reduced
CategoryTelangana government schemes
Official WebsiteWill be launched soon

Objectives of Telangana 2 Lakh Farm Loan Scheme

The main objective of Telangana 2 Lakh Farm Loan Scheme is to reduce the economic burden of the farmers, through this scheme the loan of the farmers will be deposited directly into their account by getting bank loan by the government. Apart from this, Telangana 2 Lakh Farm Loan Scheme 2024 will be completed even before the release of the current budget and if approved, it will be disclosed during the budget session of Telangana in 2024. [Also Read – Mahalakshmi Scheme Telangana: Apply Online, Eligibility & Last Date]

Financial Details under Telangana 2 Lakh Farm Loan Scheme

The details of finance provided through Telangana 2 Lakh Farm Loan Scheme are as follows:-

  • Farmer loan waiver – Up to Rs 2,00,000
  • Fund requirement – 40000 crores

Implementation Date

There is uncertainty regarding the implementation timetable, but the challenge of loan waiver will be resolved this year.

Benefits of Telangana 2 Lakh Farm Loan Scheme

The guarantee to be transferred to the Government may be given by the State Government to the Government banks to cover the total cost of loan and interest instead of paying it in installments. In return, a corporation can be formed to make payments to farmers in phases and negotiate with banks. A total of Rs 30,000 crore of farm loans were waived off by the previous BRS government following its pledge to waive off loans up to Rs 1 lakh. An important election campaign pledge by the Congress party in 2023 has been to waive off farm loans up to Rs 2 lakh. Additionally, a meeting will soon be held by the state-level bankers committee and the government to discuss possible options for the loan waiver program. [Also Read – Driver Empowerment Programme: Online Registration, Application Status]

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