Farmer Crop Loan Waiver Scheme in Telangana 2019-20

Farmer Crop Loan Waiver Scheme in Telangana 2019-20 [Farmer Beneficiary List, Application Form Download online, Eligibility, Check Loan Status]

During 2019-20 budget meeting, the Telangana government has promised to launch the Crop Loan Waiver Scheme. Recently, the government has decided to waive off agricultural loans for helping poor farmers. The loan waiving will be done up to a number of rupees 1 lakh. Loans that are taken till 11th of December 2018 will be waived off by the state government. However, after the successful introduction of Rythu Bandhu scheme, this major scheme launch by the state government aims for improving the condition of farmers. The following part of the article would take you through other relevant details of the above-said scheme.

Farmer Crop Loan Waiver Scheme in Telangana

Launch details of the scheme

Name of scheme is Crop Loan Waiver Scheme

 

Target audience of scheme Poor farmers of Telangana

 

Scheme has been announced by Telangana government

 

Main objective of the scheme is to Improve farmer’s condition in the state

 

Amount spent on the scheme is Rupees 32000 crore

 

Estimated farmers to be benefitted from the schemeis Near about 42 lakh

 

 What are the key features of the scheme?

  • Target group of the scheme – The farmers of Telangana are the beneficiaries of the scheme and they will be financially assisted by the state government as has been promised during the launching of the scheme.
  • Amount allocation for the scheme – For effective implementation of the scheme, budget allocation is necessary. For the same, a sum f rupees 6 crores have been promised by the state government.
  • Loan amount to be waived – Telangana government is successfully launched a loan waiver scheme aiming to improve the condition of poor farmers in the state. This scheme would waive up to a loan amount of rupees 1 lakh.
  • Number of farmers covered in the scheme – The successful launch of the scheme would help near about 42 lakh farmers of the state and they need not have to worry about paying agricultural loans that they have taken from different banks.
  • Amount allocation under the scheme – According to the scheme, a total of rupees 4000 per acre for per crop season will be given that would ultimately amount to rupees 8000 per annum will be given to farmers under this scheme. However, the amount has been increased to rupees 5000 per acre per crop.

What are the eligibility criteria and documents required for the scheme?

  • Loan taken before 2018 – The loan waiving scheme will be applicable for the farmers who have taken a loan before 11th December 2018. If farmers have taken loan post this date, this cannot get benefit from the scheme.
  • Loan waiving amount – The farmer loan waiving scheme will be given up to a rupees of 1 lakh. However, a total of rupees 32000 crores has been estimated to be spent by the Telangana government on account of loan waiving scheme.
  • Farmer’s income –some amount of crop will be given to farmers and this would include some acre of land as well. This would also depend on the annual income of the farmer of the state.
  • Telangana citizens – The farmer’s loan waiving scheme is applicable only for the citizens of Telangana. Citizens from no other states will be allowed to get benefits under the scheme.

Documents required:

  • Identity proof – The farmers have to submit documents at the time of registration for the scheme in support of the claim that the farmer belongs to only Telangana state and no other states. For the same, they have to give documents like Aadhaar card, voter ID card and the like.
  • Loan related documents – All loan related document should be given to justify that the farmer has taken the loan before 11th December 2018. In addition, the farmer has to submit documents relating to the total loan amount that he has taken. In case, the amount is more than rupees 1 lakh, the loan will not be waived by the state government.
  • Bank account details – Relevant bank account details should be submitted at the time of applying for the scheme. Farmers should provide correct details such as account number, IFSC code and other bank related details. With the help of this, the bank account would be linked and the beneficiary crop waiving loan amount would be transferred directly to the bank account.
  • Income certificate – Certain amount has been set as an annual income of the farmers depending on which farmers will get the benefits. Therefore, they have to produce details of annual income.

Application procedure for the scheme

Since the scheme has been a recent launch, the application process is yet to start. The officials have not yet declared the application procedure. But as soon as it comes up, the beneficiaries will be the first one to know about the updates. For the same, they have to stay updated and visit theofficial website of the scheme. Once information comes out, the beneficiaries can apply online via the state portal. 

Therefore, by effective implementation of the scheme, Telangana farmers will be able to get rid of their loan burden. This way, the agricultural sector can also be improved with the help of the state launched the scheme and also help poor farmers.

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