The newly formed Telangana government has launched the 2024 Rythu Runa Mafi Loan waiver for farmers struggling with loans up to ₹2 lakhs. Chief Minister, A. Revanth Reddy has officially launched the first phase of the loan waiver in Hyderabad for loans up to ₹1.5 lakhs on 18 July 2024
As per the reports released by the Telangana government, almost 11 lakh farmers have got their loans waived off in Phase I, and the government released ₹6,098 crore loan amount. And now, the CM has launched Phase II on 30 July 2024, where loans up to ₹ 1.5 lakh will be waived off for eligible farmers.
The government has announced the loan waiver scheme loan account & amount waived as per the district in Phase I and II. According to the data released by the government, the government will waive the loan of nearly 6 lakh farmers in the second phase by releasing 6190 crores, approximately 17 lakh farmers get the benefit of the Mafi loan waiver scheme from Phase I and II.
Benefits of Rythu Runa Mafi Loan Waiver
With the second phase of the Rythu Runa Mafi Loan Waiver scheme, the beneficiary’s farmers can get the following benefits part from the loan relief:
- Grievance Cell: The government has announced the agricultural department will set up grievance cells for farmers to report their complaints. The farmers can lodge their complaints on the Mandal level or the portal, the government is committed to resolving the issues of the farmers and providing them secure livelihood.
- Agriculture sector growth: Most of the population of Telangana state relies on agriculture and with the loan waiving scheme, the government provides financial freedom to the farmers, which will eventually contribute to the state agriculture sector growth.
- Financial Relief: The farmers struggling with their debt can get some relief from this scheme and improve their financial condition as they can use most of the profit for themselves and their next crop cycle.
The Telangana government has stood on its promise and launched the second phase of the Rythu Runa Mafi Loan waiver scheme successfully on 30 July 2024. The Telangana farmers with loan amounts up to ₹2 lakh should wait for the final phase, which the government promised to launch before 15 August 2024