Hyderabad, May 19 -- The Telangana government headed by chief minister A Revanth Reddy is planning to float a special purpose vehicle (SPV) in the form of a statutory corporation to raise funds for the implementation of its crop loan waiver scheme, under which it plans to waive farm loans up to Rs.2 lakh at one go, people familiar with the matter said.

Crop loan waiver was one of the six guarantees of the Telangana Congress before it was voted to power in the assembly elections last year.

During his rallies for the Lok Sabha elections, Revanth Reddy reiterated his government's resolve to waive all crop loans in one go before August 15.

The floating of a new corporation - Telangana State Farmers' Welfare Corporation (TSFWC) - to raise f...