Chief Minister A. Revanth Reddy urged for a national-level discussion on loan waivers, noting that no other State in the country has waived loans amounting to ₹31,000 crore in a single installment, and urged MPs to highlight this welfare initiative in Parliament.
Announcing that the waiver of crop loans up to ₹1 lakh will be completed by 4 p.m. tomorrow (Thursday), with ₹7,000 crore being directly transferred into farmers’ accounts, the CM called upon party activists and leaders, including MLAs, to celebrate the announcement by conducting bike rallies.
Addressing a meeting with MLAs, MLCs, MPs, and senior party leaders at Praja Bhavan on Wednesday, Mr. Revanth Reddy reiterated his government’s commitment to waiving ₹2 lakh in loans for farmers. “By the end of the month, loans up to ₹1.5 lakh will be waived, and the process will be completed with a waiver of loans up to ₹2 lakh in August,” he said, recalling the promise made by party leader Rahul Gandhi in the Warangal Declaration.
Mr. Reddy stated, “In seven months, our government has spent ₹30,000 crore on welfare.”
Highlighting the failures of the previous Bharat Rashtra Samithi (BRS) rule, Chief Minister Reddy criticized former Chief Minister K. Chandrasekhar Rao for not fulfilling the promise of waiving ₹28,000 crore of crop loans despite being in power for ten years.
“Financial experts have expressed concerns about the feasibility of a loan waiver due to potential financial difficulties. However, we are committed to ensuring that the promises made by the Gandhi family are upheld. If they give their word, it is as good as done,” stated the Chief Minister.
