Launched by the state government of Telangana the ‘Telangana Crop Loan Waiver Scheme’ for all the farmers of the state to benefit them. Any loan which has been taken by the farmers of the state can be waived off if they aren’t able to pay the loan.
Through the implementation of this scheme, it is going to be very easy for farmers to live a livelihood as they don’t have to worry about the financial burden on themselves. The government of Telangana is giving priority to the agriculture sector waiving off outstanding loans of the farmers.
How does this scheme work and what are the criteria and all the other aspects related to this scheme are going to be discussed in this article? So, keep on reading for all the information.
About Telangana Loan Waiver Scheme 2023
This scheme was launched by the Chief Minister of Telangana during the state budget of 2019-2020. The major goal of this scheme is to waive off all the agricultural loans of the farmers which is up to Rs. 1 lakh.
For the implementation of the Telangana Loan Waiver scheme a sum of Rs. 6 crores have been allocated. Before the government had exceeded support of Rs. 4,000 per acre for every season of the crop which sums up to a total of Rs. 8,000 per annum. But in the announcement in the budget by the CM the support has been increased to Rs. 5,000 per acre which sums up to Rs 10,000 of a whole year.
|Scheme names||Telangana Crop Loan Waiver Scheme|
|Launched by||Chief Minister of the state|
|Beneficiaries||All the farmers of Telangana state|
Features of Telangana Loan Waiver Scheme 2023
- The target beneficiaries of this scheme are going to be all the farmers of the Telangana state who are going to be financially assisted by the state government.
- The Telangana Loan Waiver Scheme was launched by the Chief Minister of the state in the budget announcement.
- The total amount allocated for this scheme is Rs. 5,000 per acre which sums up to a total of Rs. 10,000 per year.
- All those farmers who have taken agricultural loans before 7th December 2018 are going to be eligible for this loan scheme.
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Benefits of the Loan Waiver Scheme
- A total of Rs. 1 lakh would be given to all the farmers in the loan crop waiver scheme in five phases.
- In the first phase, the government has said to waive off crop loan of Rs. 25,000.
- In the next four phases in four years the rest of the incentives would be given from Rs. 25,000 to Rs. 1,00,000.
Implementation of Telangana Loan Waiver Scheme
This scheme will help in enhancing the welfare of the farming community and the Chief Minister has mentioned that through the online portal all the farmers can easily register themselves for this scheme by just sitting at home.
Also Read : Telangana Meeseva Portal
A list of every village will be formed in a prescribed format of all the farmers according to the outstanding loan amount. And, accordingly, the list of eligible farmers would be finalized for distribution of the cheques of each farmer.
Here we’ll talk first about what loans are eligible in the Telangana Loan Waiver Scheme and which are not and lastly who all are eligible.
- Short-term production loans
- Cooperative credit institutions – Urban cooperative banks, regional rural banks
- Crop loans against given gold – scheduled commercial banks
- All the loans that are restructured or rescheduled
- Advances against pledge
- Hypothecation of agriculture produce other than-
- Standing crops
- Tie-up loans
- Closed crop loan accounts/written-off loans
- Loans to joint liability groups (JLGs)
- Loan eligibility cards (LECs)
- Rythu Mithra groups (RMGs)
Who all are eligible?
- Following given are the eligibility criteria you need to be eligible for the scheme:
- The candidate must be a farmer from his/her profession.
- The candidate must be a resident of the Telangana state.
- This scheme’s application is for all those farmers whose crop loan has been sanctioned the amount after 1st April 2014 and is outstanding till 11th December 2018.
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Registration Process for the Scheme
- Firstly, you need to visit the official website of the Telangana Loan Waiver scheme.
- Then you have to go to the homepage of the website and select the option of ‘apply here.
- Then an application form would open on your screen.
- Then you need to fill in the form which will require all the important information so fill in the form very carefully.
- Then you’ll have to attach all the other documents with the registration form.
- Lastly, you’ll have to select the option of ‘submit’. And you’ll be successfully registered for the loan waiver scheme.
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- Aadhar card
- Identity proof
- Income certificate
- Passport size photograph
- Loan documents
- Bank account details
If you need to contact me regarding any problem with the Telangana Loan Waiver Scheme then you can directly go to the website. On the homepage itself you’ll see an option of ‘contact us’ simply click there and you’ll get all the required contact det
ails.Also Read : Student Credit Card Scheme : Government of West Bengal
So, this was all for this article. We hope all this detailed information was helpful for all of you regarding the Telangana Loan Crop Waiver Scheme. If you are a farmer from the Telangana state then this scheme is for you.
Let us know if you have any other queries regarding this scheme in the comments. Thank you!
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