Telangana government has announced Crop Loan Waiver Scheme in Budget 2019-20 presented on 22 February 2019. State govt. has proposed to waive off all agricultural term loans upto Rs. 1 lakh. Outstanding farm loans of farmers which are taken till 11 December 2018 are going to be waived off. This is the next major step of the KCR govt. for farmers welfare after the introduction of Rythu Bandhu Scheme.
Chief Minister K. Chandrasekhar Rao who also holds the finance portfolio has now presented vote-on-account budget in the state’s legislative assembly. For the successful implementation of Telangana Farm Loan Waiver Scheme, the state govt. has proposed an amount of Rs. 6,000 crore.