Telangana Budget 2023: A festival for farmers, Big push for loan waiver

Telangana Budget 2023: Finance Minister Harish Rao made a key announcement in the Assembly regarding the loan waiver that farmers have been waiting for many years. This time, huge funds have been allocated for loan waiver. Apart from the agricultural sector, funds have also been allocated heavily for Rythu Bandhu and Rythu Bhima. 

Minister Harish Rao said that the Telangana government has given high priority to farmers’ allied sectors that the dream of development will be realized only when the farmers who provide rice to the country are well. Especially Rs.6,385 crs have been allocated for farmer exemption.  The farmers are happy with this. But it is to be known whether it will be done at once or in installments. On the other hand, since this is the last budget of the Telangana government, it seems that the allocations will be huge. Actually, the accumulated arrears from 1st April , 2014 to 11th December, 2018 are about Rs.24,738 crs. The government has waived off only Rs.763 cr in two installments. While the loan of up to Rs.1 lakh should be waived off for each farmer, so far only the dues of up to Rs.37 thousand have been waived off. Although Rs.1,200 crs have been allocated in the 2021-22 budget, only Rs.409 crores have been released.

The government has increased the special development fund. Last year Rs.2 thousand cr, now Rs10,348 cr have been given.  Allocations for development of villages have increased massively. Rs 31,426 cr are given to the Rural Development and Panchayat Raj Department. Rs 500 cr for metro connectivity in Old City, Rs.17,700 cr for Dalit Bandhu, Rs 1,500 cr for metro rail project, Rs 500 cr for airport metro connectivity, Kalyana Lakshmi, Shadi Mubarak Rs 3,210 cr.

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