The Telangana Government presented their budget 2019-20. The Telangana CM who also holds finance portfolio presented the budget. He proposed Farm Loan Waiver Scheme for crop loans upto Rs. 1 lakh. Under the scheme agriculture term loans up to Rs 1 lakh outstanding as on December 11, 2018 will be waived off. The budget of Rs. 6,000 crores is allocated for the scheme. Telangana Budget 2019-20 is a vote-on-account budget & presented in the state legislative assembly on 22nd February 2019.
The farm loan waiver was the Telangana Rashtra Samithi (TRS) poll promise for the election 2018. The government already has several welfare schemes for the farmers in the state. One such scheme is Rythu Bandhu. A financial assistance of Rs. 8,000 per acre is given to farmers every year. The government also proposed the increase in the financial assistance under the scheme. At present Rs. 4,000/acre is given every sowing season to the farmers. The government has proposed to provide assistance of Rs. 5,000/acre every season (Kharif & Rabbi) i.e. Rs. 10,000/acre every year.
|Farm Loan Waiver Scheme|
|Benefits:||Farm loan waiver for agricultural loans upto Rs. 1 lakh due on 11th December 2018|
|Beneficiaries:||Farmers in Telangana|
|Budget:||Rs. 6,000 crores|
Telangana Farm Loan Waiver Scheme Eligibility Criteria:
- Applicable only for Telangana residents
- Applicable only for the farm loans taken by farmers
- Applicable only for those crop loans which were taken before 11th December 2011
The CM also announced unemployment allowance of Rs. 3,016 per month for the unemployed youth in the state. The Aasara Pension is also increased from Rs 1,000 per month to Rs. 2,016 / month. The Aasara Pension is given to the aged, widows, single women, beedi workers, people suffering from filariasis, handloom workers and toddy-tappers.