CM YS Jagan releases Rs. 1,294 Cr for Rythu Bharosa, interest subvention

 - Sakshi Post

Amaravati: Chief Minister YS Jagan Mohan Reddy released Rs.1,294.34 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 on Wednesday, 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 57 months.

Out of the Rs.1,294.34 crore released, Rs.1,078.36 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.

Under the scheme, the Government pays Rs.13,500 each in three installments every year with the first and second tranches of Rs. 7,500 and Rs. 4,000 being paid in May or June for Kharif sowing and in October or November for Kharif harvesting and Rabi requirements respectively. 

The third tranche of Rs 2,000 would be paid in January or February for Rabi harvest. The Chief Minister said that the Government has 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.

Government has been implementing various welfare schemes with commitment for the benefit of farmers and hand holding them at every step, unlike the previous TDP regime that ditched the farming community by defaulting on the Rs. 87,612 crore loan waiver promise, he said.
He further said that while an amount of Rs.34,288 crore was incurred under Rythu Bharosa–PM Kisan so far, Rs. 2,050.53 crore was spent on interest subvention that benefitted 84.66 lakh farmers under YSR Sunna Vaddi Panta Runalu.

The Chief Minister said that 50 percent of farmers own less than half a hectare and 70 percent of farmers own less than 1 hectare and stressed that these two schemes would be very helpful to the small and marginal farmers in meeting 80 percent of cultivation expenses.

Government has also been implementing several other schemes for the farmers including nine hour free power supply during day time and input subsidy, he said, adding that so far a whopping Rs. 1,84,567 crore has been spent on farmers’ welfare. 

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

Also Read: Watch: CM YS Jagan Gives Route Map to Party Cadre

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