Hyderabad: In a significant move aimed at supporting the agricultural community, Chief Minister K Chandrashekar Rao (KCR) of Telangana has greenlit the resumption and completion of the next phase of the ‘Rytu Runa Mafi’ Crop Loan Waiver Scheme. Valued at Rs 19,000 crore, this initiative is set to recommence on August 3, 2023. KCR, during a high-level review meeting convened at Pragathi Bhavan in Hyderabad, directed Finance Minister T Harish Rao and Special Chief Secretary Finance K Ramakrishna Rao to initiate the scheme’s reinstatement and phased implementation, mirroring the approach of the successful ‘Rytu Bandhu’ scheme. The Chief Minister has set a target for the comprehensive execution of the initiative by the second week of September at the latest.
Taking into account the struggles faced by the state’s farming community, KCR underscored the government’s commitment to mitigating their challenges. Despite fiscal constraints, the government previously waived the outstanding loans of all farmers in the state as of March 31, 2014. KCR acknowledged the unforeseen hurdles presented by the sudden demonetisation and the prolonged pandemic, coupled with Financial Responsibility and Budget Management (FRBM) restrictions imposed on Telangana. These factors contributed to a slight delay in the scheme’s continuation.
With the state’s financial situation showing improvement and the reduction of fiscal deficit, KCR expressed confidence in reinitiating and successfully concluding the scheme to the benefit of the state’s farmers. While ensuring the revival of ‘Rytu Runa Mafi’, KCR also affirmed the ongoing implementation of farmer-centric programs such as ‘Rytu Bandhu’, ‘Rytu Bima’, and the provision of free power, all aimed at bolstering the welfare of the agricultural sector.
Minister for Agriculture Singireddy Niranjan Reddy conveyed gratitude to the Chief Minister for his unwavering commitment to farmers. He lauded the farmer community’s trust in the government’s intentions, debunking speculations raised by opposition parties regarding the scheme’s execution. Niranjan Reddy explained that the implementation of the Crop Loan Waiver Scheme faced temporary delays due to financial constraints stemming from the pandemic’s economic impact. He emphasized that the ‘Rytu Bandhu’ scheme remained in operation, ensuring direct deposits into farmers’ bank accounts, even amid challenging circumstances.
The revival of the ‘Rytu Runa Mafi’ Crop Loan Waiver Scheme showcases the government’s steadfast dedication to alleviating the burdens faced by the state’s farmers and reinforcing the agricultural sector’s stability.