Farmers’ Urgent Need for Funds
Farmers in Telangana, facing financial distress, previously relied on funds from the BRS government’s Rythu Bandhu initiative for purchasing fertilizers and seeds during Yasangi. However, the promised funds under the new Congress government’s Rythu Bharosa scheme have not been released, leaving farmers in dire need.
Unfulfilled Promises
Despite assurances from CM Revanth Reddy to deposit Rs. 15 thousand in farmers’ accounts by December 9, the funds pledged by the Congress government remain undelivered. This broken promise adds to the challenges faced by farmers, who anticipated financial relief.
Financial Constraints and Debt
CM Revanth Reddy cites the inability to provide funds as per the initial promise due to the dire financial situation. The BRS government’s substantial debt and lack of available funds hinder the Congress government’s ability to fulfill its commitments promptly.
Debt Challenges
The BRS government’s accumulated debt poses a significant obstacle to obtaining new loans. The treasury’s depleted state further complicates matters, delaying essential financial support for programs like Rythu Bharosa and other immediate needs.
Funding Shortfall
The Congress government’s ambitious election guarantees, requiring an estimated Rs. 60 thousand crores annually, face a critical funding shortfall. The treasury reportedly lacks the necessary Rs. 11 thousand crores for the promised farmer assistance, intensifying the challenge.
Revenue Struggles
The Telangana government’s total revenue projection for 2023-24 is Rs. 2.16 lakh crores, with 1.15 lakh crores received by November. Despite the potential for an additional lakh crores by March, officials doubt reaching this level due to reduced revenue and accelerated debt clearance by the previous government.
Delayed Relief
With the government grappling with debt burdens and financial constraints, farmers may have to wait until January or February for the promised funds. An official announcement addressing the issue is anticipated in the coming days.