AP CM releases Rs 1,294 Cr for Rythu Bharosa, interest subvention

Vijayawada: Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Wednesday released Rs 1294.34 crore towards the third tranche of ‘YSR Rythu Bharosa–PM Kisan’ for the fifth year and interest subvention for the fourth year in a row under ‘YSR Sunna Vaddi Panta Runalu’.

Releasing the amount with the click of a button at the Camp Office here, the Chief Minister stated that the State welfare depends on farmers’ welfare and keeping that in mind, the Government has taken several steps for the welfare of farmers in the last 57months.

“Out of the Rs 1294.34 crore released, Rs 1078.36 crore is meant for Rythu Bharosa under which 53.58 lakh farmers will receive Rs 2000 each directly into their bank accounts while 10,78,615 farmers will receive Rs 215.98 crore towards interest subvention for timely repayment of interest on crop loans taken during the Rabi 2021 and Kharif 2022 seasons,” he informed.

Under the scheme, the Government pays Rs.13,500 each in three installments every year with the first and second tranches of Rs 7500 and Rs 4000 being paid in May or June for Kharif sowing and in October or November for the Kharif harvesting and Rabi requirements respectively, Reddy stated, adding that the third tranche of Rs 2000 will be paid in January or February for Rabi harvest.

The Chief Minister said that the state government had paid Rs. 67,500 each under Rythu Bharosa in the last 57 months, paying an extra of Rs. 17,500 each than the promised Rs. 50,000 in five years in the YSRCP election manifesto.

Reddy further said that while an amount of Rs 34,288 crore was incurred under ‘Rythu Bharosa–PM Kisan’ so far, Rs 2050.53 crore was spent on interest subvention that benefitted 84.66 lakh farmers under ‘YSR Sunna Vaddi Panta Runalu’.

He explained that 50 percent of farmers own less than half a hector and 70 per cent of farmers own less than 1 hector and stressed that these two schemes would be very helpful to the small and marginal farmers in meeting 80 per cent of cultivation expenses.

The Government has also been implementing several other schemes for the farmers including nine-hour free power supply during daytime and input subsidy, the Chief Minister said and added that so far, a whopping Rs. 1, 84, 567 crores has been spent on farmers’ welfare.

Agriculture Minister K. Govardhan Reddy, Chief Secretary Dr KS Jawahar Reddy and other senior officials were among those present.