On Independence Day, Chief Minister K Chandrashekhar Rao declared a farm loan waiver up to Rs 99,999. The government has quickly provided funds to settle these farmer debts. Farmers with loans under Rs 1 lakh will no longer owe that money. The government will pay off debts up to Rs 99,999 directly to banks. Despite financial hurdles, Rao assures that his government will always support farmers. The finance department has allocated Rs 5809.78 crore for 9,02,843 farmers this Monday. In a recent social media post, Finance Minister Harish Rao celebrated this act, saying it's a historic moment for India: the largest one-time loan forgiveness for farmers ever.
