Hyderabad: The state government has been working on the modalities for the `1 lakh loan waivers to farmers.
During the December 2018 elections, Chief Minister K. Chandrasekhar Rao had promised Rs 1 lakh loan waivers to farmers as he did during his first term. He declared December 11, 2018, as the deadline.
From 2014 to 2018, the government paid Rs 16,124 crores in five instalments towards the loan waiver.
Although the government allocated Rs 6,000 crores to the scheme in the interim budget for 2019-20, the government has not yet announced the modalities for the scheme.
According to officials of the agriculture department, the CM has held discussions regarding payments under the scheme with bankers.
Officials said that as per the records available with the department, the total loan amounts to Rs 26,000 crore but bankers put it at Rs 20,000 crore excluding the loans availed by sugar cane and turmeric farmers. They said that the government is likely to announce the scheme to be followed after the Assembly session.