Andhra Pradesh Chief Minister Y. S. Jagan Mohan Reddy credited Rs 510 crore into the unencumbered bank accounts of 14.5 lakh eligible farmers as part of ‘YSR Sunna Vaddi Panta Runalu’ (zero interest crop loans scheme) on Tuesday.
The move is aimed at reducing input costs and thereby decreasing the financial burden of farmers.
“Fulfilling the promise made in the manifesto that interest-free crop loans will be provided as a subsidy to bank accounts of the farmers who have repaid 2019 Kharif crop loans within the stipulated period of one year,” said Agriculture Minister Kurasala Kannababu.
Besides Rs 510 crore, the government is also disbursing an additional amount of Rs 132 crore which will be credited to farmers who suffered crop loss during the recent heavy rains.
“Earlier, the government had credited a total amount of Rs 135 crore into the bank accounts of around 1.66 lakh farmers towards compensation for crop loss incurred due to heavy rains and floods from June to September this year,” said an official statement.
The CM said AP is a pro-farmer state, and the government will ensure to give maximum support and answer the farmer’s distress.
“The Government will assist every farmer starting from seeds to the purchase of crops,” said Reddy.
He further said that budget allocations were also made to provide zero percent interest loans to tenant farmers as well under the Rythu Bharosa scheme among others.