Telangana Chief Minister Kalvakuntla Chandra Sekhar Rao had given clarity about the loan waiver which will be given to farmers in the Telangana Assembly. KCR announced that his government will be waiving loans of crops and even the loans taken on gold loans. However the upper limit of one Lakh will be applicable. KCR announced that 26 Lakh farmers will be benefited through this scheme and will cost 19000 Crores on the state exchequer.
However KCR reiterated that government will take up this scheme even though it will take a heavy toll on the state treasury. However KCR said this loan waiver will require few permissions from Reserve Bank of India and his government will begin the work very soon. He also assured the Assembly that he will speak to the bankers to issue Kharif Loans with out relation with the previous loans.
